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Bank of Russia annuls license of American Express Bank

The American Express Bank was registered by the Bank of Russia in December 2005

MOSCOW, August 13. /TASS/. The Bank of Russia canceled the banking license of American Express Bank from August 13, the regulator said.

"An application of the credit institution sent to the Bank of Russia in connection with the decision of the sole member on its voluntary liquidation served as the basis of cancelling the license of American Express Bank LLC," the Central Bank said.

A liquidator will be appointed to the American Express Bank. The bank is not a participant in the deposits insurance system.

The American Express Bank was registered by the Bank of Russia in December 2005. Bank’s founder is the US-based American Express, which wound down the business in Russia in 2022.

In May 2024, Russian President Vladimir Putin signed the decree authorizing voluntary liquidation of the bank in Russia.

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