The Bank of Russia canceled Raiffeisenbank’s license to carry out deposit activities. The request to renounce the license was submitted by the bank itself. Earlier it became known about Raiffeisenbank’s plans to rebrand and register new brands.
The Central Bank of the Russian Federation announced the cancellation of the license of JSC Raiffeisenbank.
“[…] cancel the license to operate a specialized depository of investment funds, mutual funds and non-state pension funds,” the Bank of Russia said in a statement.
The regulator clarified that the license was canceled on the basis of a request from Raiffeisenbank.
It previously became known about plans by Austria’s Raiffeisen Bank International (RBI) to rebrand Raiffeisenbank after the sale or separation of the group structure.
On September 8, Raiffeisenbank submitted applications to Rospatent to register new trademarks. The applications presented the bank’s new logo in four versions. Two are “R Bank” with white and yellow background colors, two more are “R Bank” with fills of the same colors.
Author:
Kirill Bilyk
Source: RB
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