Danske Bank Russia has entered into liquidation

The Central Bank of Russia (CBR) has today accepted Danske Bank’s application to hand in our banking licence and liquidate our Russian bank. This is in line with our decision to close our Russian activities as communicated back in February 2019, and as agreed with the CBR.

In the course of the last eight months we have worked to wind down our banking activities in a controlled manner. All daily banking has been closed and customer loans have been refinanced with other banks.

A liquidation committee will take over management responsibility to carry out the liquidation.

Chairman of the board of directors of Danske Bank Russia and member of the liquidation committee, Frederik Bjørn, comments:
“Today’s news marks that we will now move into the final phase of exiting our activities in Russia. I am pleased that all customers have found new banking partners and that the transition has been smooth. We will now focus on ensuring that our remaining obligations are met.” he says.

You may find the CBR press release in Russian here.