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On Thursday the Central Bank of the Russian Federation revoked the licenses of three banks

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On Thursday the Central Bank of the Russian Federation revoked the licenses of three banks

On Thursday the Central Bank of the Russian Federation revoked the licenses of three banks
July 21
14:00 2016

THE BANKRUPTCY OF “RUSKOBANK”

The Central Bank of the Russian Federation submitted the claim to the Arbitration Court of St. Petersburg and Leningrad region about the bankruptcy of the Russian Industrial and Commercial Bank (Ruskobank, the city of Vsevolozhsk, Leningrad region), states the information from the court card index. The application was registered on 19 July but has not been taken to the production yet. As it was previously known, the Bank of Russia revoked the license of “Ruskobank” on 21 June. The Bank credit policy was high-risk and related to the placement of funds in the poor quality assets. The adequate assessment of risks, taken by the bank on the supervisory authority request, led to a significant reduction in the volume of its own capital more than once. It also led to the establishment of bases for taking measures to prevent the bankruptcy of the credit institution.

For the results of the first quarter of the current year “Ruskobank “was at the 242th place in terms of assets in the “Interfax-100” ranking. In terms of individuals’ funds the bank took the 170th place (6.7 billion rubles).

THE LICENSE WAS REVOKED OF THE MOSCOW BANK “STRATEGY”

The information from the Central Bank of the Russian Federation stated that on 21 July it withdrew the license for banking operations of the bank “Strategy”, which is registered in Moscow. In addition, a regulator says that the license of the “Strategy” was withdrawn because of “the credit organization’s failure to comply federal laws that regulate banking activities”, reducing the size of its own capital below the minimum allowed value.

“With the unsatisfactory quality of assets the “Strategy” bank inadequately assessed the accepted risks. On the request of the supervisory authority the proper assessment of the credit risk identified the total loss of the bank funds”, – reports the Central Bank of the Russian Federation. The temporary administration is at the head of the bank until the appearance of a bankruptcy trustee or a liquidator.

The “Strategy” bank takes part in the deposit insurance system. In the first quarter of this year it was on the 210th place in terms of assets in the ranking of “Interfax-100”, which has been prepared by “Interfax-CEA”.

THE ABB BANK LOST THE LICENSE

The Central Bank of the Russian Federation reported that on 21 July it had revoked the license for banking operations of the Moscow ABB bank. According to the Central Bank, the license was withdrawn because of “the credit organization’s failure to comply federal laws” and requirements violations of the Central Bank normative acts during the year. These regulations counteract the income laundering which was obtained illegally and the financing of terrorism. “The ABB bank implemented the high-risk credit policy and did not create reserves for possible losses on loan debts and other assets. The bank internal control rules in order to prevent legalization (laundering) of proceeds, received from crime, and terrorist financing disagreed the requirements of the Bank of Russia normative acts,” – informs the Central Bank of the Russian Federation.

The bank is headed by the temporary administration until the appearance of a bankruptcy trustee or a liquidator.

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