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License-stripped My Bank to begin payments to depositors no later than February 14

The aggregate sum on all accounts of a depositor in the bank will be paid to account holders as insurance benefits in an amount not exceeding $19,800

© ITAR-TASS/Gennady Khamelyanin

MOSCOW, January 31. /ITAR-TASS/. License-stripped Moscow-based crediting organization Moy Bank will begin payments to its depositors no later than on February 14, 2014, the deposit insurance agency said in a statement on Friday.

The aggregate sum on all accounts of a depositor in the bank will be paid to account holders as insurance benefits, including accounts opened for business activity, in an amount not exceeding 700,000 rubles ($19,800) on aggregate, the agency said in a statement. The sum not compensated by insurance policy will be repaid in the course of the bank’s shutdown procedure.

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