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Central Bank revokes license of Commercial Volzhsky Social Bank

December 02, 2013, 10:59 UTC+3 MOSCOW
The Commercial Volzhsky Social Bank has been working on the Russian market since 1993
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© ITAR-TASS/Nikolai Nikitin

MOSCOW, December 02. /ITAR-TASS/. The Central Bank of Russia has revoked a license for carrying out banking operations of the Commercial Volzhsky Social Bank headquartered in Samara, the country’s leading industrial center in the Volga region, the regulator said in its statement on Monday.

The Commercial Volzhsky Social Bank has been working on the Russian market since 1993. It is a participant of the deposit insurance system and specializes in servicing corporate clients and attracting personal deposits.

The bank has 24 offices on the territory of Samara and the Samara region.

On November 26, the Commercial Volzhsky Social Bank suspended its operation without naming reasons.

The Chairman of the Board of the Commercial Volzhsky Social Bank, Valery Kuchkanov, was found dead with a gunshot wound in the head in his house in Samara on November 20. The investigation is underway.

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