The Central Bank of the Russian Federation extended a moratorium imposed on the claims of VVB Bank's creditors by up to three months, according to a March 13 statement.
The initial three-month moratorium was introduced in December 2017 due to the difficult financial situation of the lender, which used to operate as OAO KB Yaroslavich.
In December 2017, the bank, whose services target clients in Russia-annexed Crimea, was also placed into provisional administration for a period of six months, with the primary task of the administrators to assess its situation and help the regulator determine the best measures to resolve its financial problems.
