Qiwi announced that it will continue to operate despite the revocation of Qiwi Bank’s license. The group expects a significant drop in revenue as Qiwi Bank was the core of its business and contributed more than 70% of revenue.
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The Qiwi group announced the continuation of its work despite the fact that Qiwi Bank, which contributed 70% of its income, had its license revoked. RBC writes about this with reference to the Qiwi report.
Qiwi Bank was the core of Qiwi’s business, so the group expects a significant drop in profits. The company will be able to restore activity at the same or comparable volume during the next year.
After Qiwi Bank’s license was revoked, the group decided to change its operating model and move to partnering with multiple banks instead of cooperating with a single bank. The company stated that it has already reached agreements with several partners and is preparing to connect external banks.
Qiwi also reported 9.1 billion rubles, which were blocked since February 21. Transferring funds from accounts opened at Qiwi Bank is temporarily impossible, Qiwi said, but the group has money in other banks, which will be enough to pay creditors.
Author:
Kirill Bilyk
Source: RB
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