The Moscow Arbitration Court has completed the procedure for the forced liquidation of "Qiwi Bank", putting an end to the history of one of the largest fintech structures in Russia. According to court materials, the application for liquidation was filed by the Deposit Insurance Agency (DIA), which acted as the liquidator of the credit institution.
The DIA announced the complete settlement with creditors: almost 38 billion rubles were sent to more than 79 thousand clients and organizations. Thus, all obligations of the bank to depositors and partners have been fulfilled in full.
"Qiwi Bank" was part of the QIWI group's ecosystem — one of the largest electronic payment operators in the country, which developed online wallets, transfer systems and its own ATM network. In recent years, the bank has been repeatedly audited by the regulator. In February 2024, the Bank of Russia revoked its license, citing systematic violations of legislation in the field of combating money laundering and terrorist financing, as well as shortcomings in internal control.
In March, the Central Bank filed a lawsuit for compulsory liquidation, and since April 2024, the functions of the liquidator have been transferred to the DIA. Over the year, the agency sold assets, settled obligations and completed the bankruptcy procedure.
The completion of the liquidation of "Qiwi Bank" symbolizes the end of an entire era in the Russian fintech industry: QIWI was one of the first players to form the electronic payments market in the 2010s.
Read more on the topic:
- The Deposit Insurance Agency explained how Qiwi wallet holders can get their money back
- Qiwi blocked the withdrawal of funds from wallets after the Central Bank revoked the license from Kivi Bank
- Depositors of the KIVI Bank, which had its license revoked, began to receive compensation through Uralsib
