On 21/02/2024, Alexander Linnikov appeared on the “DAY” program on the RBC channel to comment on the consequences of the Bank of Russia’s decision to revoke the license for banking operations from QIWI Bank. The founder of L&P answered questions from the program’s hosts and engaged in constructive dialogue with the studio guests on RBC.
“The existence of all financial services within one credit organization is not always economically justified, which is why major players utilize the services of subcontractors, as is the case with QIWI Bank. Unfortunately, in the current situation, the sanitation of QIWI Bank is no longer possible. Sanitation is a financial recovery procedure applied only when a credit organization experiences certain financial problems. However, in this case, it is not solely about financial problems. The bank’s license has been revoked, and consequently, it has ceased to be a credit organization and is no longer subject to sanitation. Its future will depend on the decision of the temporary administration and the will of the deposit insurance agency, which will choose the liquidation procedure for the credit organization whose license has been revoked, meaning the bank will be either liquidated or undergo bankruptcy,” noted the founder of L&P, adding: “Infrastructure elements outside of banking regulation can certainly be transferred to new shareholders, and personnel may transition to work elsewhere. The bank possesses certain tangible and intangible assets, and during the liquidation process, the deposit insurance agency will distribute them. Its task is to liquidate all assets of the liquidated credit organization to satisfy the creditors’ requirements, including the owners of QIWI wallets.”
