The Bank of Russia has revoked the banking license of PromTransBank (PTB), a limited liability company based in Ufa, according to an April 15th announcement. PromTransBank, which held a 177th ranking by assets in the Russian banking system, had its license rescinded due to multiple violations of federal banking laws and regulations.
“The Bank of Russia made this decision in accordance with Clauses 6 and 6.1 of Part 1 of Article 20 of the Federal Law ‘On Banks and Banking Activities,’” an official statement explained. The bank faced previous regulatory measures over the past year, including restrictions on accepting household deposits. Additionally, PTB failed to adhere to laws against the legalization of criminally obtained income and the financing of terrorism.
The bank had been consistently loss-making, with large long-term investments that did not yield sufficient returns on borrowed funds, leading to a systematic reduction in capital. Efforts by the bank’s owner to improve financial stability were deemed insufficient and additional financial support could not be provided.
The Bank of Russia also highlighted that PTB was involved in suspicious transactions that sought to shift money into the shadow economy. Numerous violations related to anti-money laundering and combating financing of terrorism (AML/CFT) were detected both during off-site supervision and on-site inspections. Consequently, the bank’s professional securities market participant license was canceled.
The State Corporation Deposit Insurance Agency (DIA) has been appointed as the provisional administrator by Order No. OD-664, dated April 15, 2025, to manage PTB’s affairs. This provisional administration will continue until a receiver or a liquidator is appointed, with the executive bodies’ powers being suspended under federal laws.
For the bank’s depositors, compensation will be available for their deposits, covering 100% of the balance, up to a maximum of ₽1.4 million per depositor. Deposits will be repaid by the DIA, which can be contacted for detailed information through a 24/7 hotline or its website.
