General characteristics of the bank.
The bank has existed on the market for just over 20 years. Throughout its history, it never became a large bank implementing large lending programs. The main focus is corporate lending; activities related to currency — transfer, currency exchange, etc. is also focused on attracting new investors. This company exists at the expense of deposits and other funds of the bank’s clients. Initially, when the bank just started its activities, its name had a different character, namely — «Vorkuta». It was called so because the main office was located in Vorkuta. After 17 years, it was renamed into «Bank City».
In November 2015, the license to continue its financial activities was revoked from the Joint Stock Company “Bank Gorod” of the Central Bank of the Russian Federation. This happened due to the failure to comply with some laws, which, in turn, regulated the activities of this company. And also, this was facilitated by the inability to respond to the requests of creditors.
Unfortunately, this fate overtook not only this bank, but about 8 dozen of the same companies. All of them were deprived of their licenses, and accordingly the suspension of their activities.
Consequences of bank closure.
In view of the fact that the deposits of Bank Gorod were insured under the auspices of the compulsory insurance program, the affected depositors received their compensation, literally, within a month from the date of revocation of the license. Because deposits in this and 2 other banks exceeded about 18 billion rubles, all depositors will receive a payment of more than 6 billion for all.
Reviews about the bank.
Having monitored the reviews of the bank that has already ceased to exist, an ambiguous impression is formed. Most of the depositors noted the unreliability of saving, and even more so, increasing their money. Some of them had difficulty withdrawing cash from their account. Employees justified these difficulties with the lack of cash in the bank. There are also such comments that compromise employees on the part of their incompetence about the products provided by the bank.
In our opinion, in the case when there is an opportunity to insure their savings, it is better to do this so that unpleasant situations do not arise, like the depositors of Bank Gorod. Even if you do not save your contribution, you will receive compensation in any case.