Rus-Bank-Ural started paying compensation to Kurgan-based Kurganprombank’s depositors on December 11, 2008. This was made possible after the Deposit Insurance Agency declared that Rus-Bank was the winner among all the potential agent banks that would be involved in making compensation payments to the customers of Kurganprombank.

Kurganprombank was had joined in the deposit insurance system and had its license annulled on November 27, 2008. This was seen as an insured event in accordance with the federal bill on the insurance of private individuals’ deposits in Russian Federation’s banks. The law states that the bank’s depositor can now get some compensation on the deposits they had in this particular bank.

According to the bank’s liabilities list, about 5,600 depositors have the right to get a total of about 622 million RUR. The applications and the payments are to be handled by Rus-Bank’s Kurganskiy office as well as in eight additional offices of Rus-Bank-Ural (a member of Rus-Bank’s banking group) in Kurgan, Shadrinsk, Kataisk, Shumikha, and Dalmatovo between December 11, 2008 and June 11, 2009.

Kurganprombank’s customers can get their compensation in the agent banks either in cash or via a bank account they indicate.