The Central Bank canceled the brokerage license of Yandex-Bank
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The Bank of Russia has canceled the license of JSC “Yandex-bank” to carry out brokerage activities. Decision on this regulator accepted March, 6.
Yandex-Bank itself turned to the Central Bank with a statement on the annulment of the brokerage license. The organization told RBC that the relevant services are not “a priority at this stage.”
Yandex acquired Acropolis Bank in July 2021. For a 100% stake in the future Yandex-Bank, the company paid about 1.1 billion rubles, including 75 million rubles. as a premium to capital for the purchase. All licenses (including the brokerage license dated December 21, 2000) were transferred to the new owner at the same time. At the end of 2022, the capital of Yandex-Bank exceeded 4 billion rubles. (an increase of three times year on year).
Read more about the financial business of the Russian IT giant – in the material “Kommersant” “Yandex found capital for the bank”.
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