The Central Bank canceled the license of NDKO “Land Credit”
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The Bank of Russia has revoked the banking license from the non-bank deposit and credit organization (NDKO) Land Credit. The reason for revoking the license, as stated in order Central Bank, was a petition for voluntary liquidation.
The organization’s reporting data states that Land Credit has sufficient assets to satisfy creditors’ claims. The financial institution is not a member of the deposit insurance system.
The organization’s website says that Land Credit issued loans to small and medium-sized businesses, as well as individual entrepreneurs. In addition, the organization provided consumer loans to individuals and rented out bank cells.
In December 2019, Land Credit changed its status and name to a non-banking credit institution engaged in deposit and credit operations. In terms of assets, the organization occupied 354th place in the banking system of the Russian Federation.
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