Stock market quotes, forex, financial news, forex tools – money-investing.com

The Bank of Russia has revoked the license of Rosprombank

 Breaking News

The Bank of Russia has revoked the license of Rosprombank

The Bank of Russia has revoked the license of Rosprombank
September 13
10:30 2016

The Central Bank of the Russian Federation has withdrawn the license for banking operations of the Russian Industrial Bank. The regulator gave this information in the official statement.

In particular, it states: “Rosprombank conducted a high-risk lending policy related to the placement of funds in low-quality assets. An adequate assessment of taken risks at the request of the supervisory authority and the fair reflection of the bank’s assets cost have led to the occurrence of grounds for implementation of measures to prevent the insolvency (bankruptcy) by the credit organization”.

The regulator pays attention that, in addition, the bank ignored the Central Bank’s requirements of the legislation and regulatory acts in the field of combating money laundering, which were obtained illegally and financing of terrorism in terms of providing accurate data to the authorized body.
Rosprombank has got a temporary administration until it gets a competitive manager or a liquidator.

The Russian Industrial Bank participates in the deposit insurance system.

Cyprus Popular Bank (99,927%), residing on Cyprus controls the bank. The remaining 0.076% is owned by “Aquada” co. Ltd, Moscow.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment