The Bank of Russia from October 25, withdrew the license for banking operations of the Bank “Financial capital”, registered in Saint-Petersburg. The press service of the regulator said that the Bank conducted high-risk lending policy connected with placement of funds into low-quality assets.
“In view of the unsatisfactory quality of assets not generating sufficient cash flow, the Bank was unable to timely fulfill liabilities to creditors”, – stated in the message of the Central Bank.
In connection with additional formation at the request of the Supervisory body reserves for possible losses on loan receivables in the credit organization have any grounds for implementing measures to prevent insolvency (bankruptcy).
In the Bank “Financial capital” appointed a temporary administration of the validity period until the appointment of a bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution in accordance with the Federal laws are suspended.
“Financial capital” is the participant of system of insurance of contributions. KB “the Financial capital” in the third quarter of 2016 took the 495-th place by assets among Russian banks in the ranking “Interfax-100″.
According to the Bank statements of the Central Bank, on October 1 of the current year by total assets of the credit organization took the 512-th place in the Russian banking system.