The Bank of Russia adopted a decision to revoke starting January 19, 2009 a banking license held by Bank Prikamie (Perm, registration #844). As the PR department of the Central Bank of Russia reported, the license was cancelled because of the bank’s failure to comply with the laws that regulate banking activities and also CBR statutory acts, and also owing to the lender’s inability to meet monetary claims of creditors.

Due to the loss of liquidity Bank Prikamie was unable to make timely settlements on client accounts. The bank’s executives and shareholders took no relevant actions to restore its financial standing or eliminate reasons obliging the Bank of Russia to cancel the lender’s banking license.

In line with the CBR order temporary administration was appointed at Bank Prikamie until a bankruptcy manager or a receiver is elected. The powers and authority of the lending institution’s executive bodies were suspended.