License to conduct banking activities revoked by the Bank of Russia in two banks “Fines Bank” and “Education”, reported the press service of the Central Bank.
Bank “Education”, which, according to statements by total assets on April 1, occupied 118-e a place in the banking system of the Russian Federation is the participant of system of insurance of contributions.
The Bank actually lost the ability to perform in full its obligations to creditors, the report says the Bank of Russia.
According to the Bank, the problem had arisen due to the use of extremely risky business models and poor quality of a significant part of the assets associated with lending to companies with signs of a lack of viable economic activities.
In the course of supervision of the Bank identified unethical practices of its management and owners, expressed in the withdrawal of assets to the detriment of the interests of creditors and depositors, as well as their technical transformation with the aim of evasion from execution of requirements of the Supervisory authority on creating provisions for possible losses, adequate, taken risks.
In addition, the Bank submitted to the Central Bank false financial statements, not reflecting the actual loss of equity (capital). With this in mind, the actions of the managers of credit organizations are the signs of deliberate bankruptcy.
To conceal an acute shortage of liquidity, the Bank artificially limited clients the right to dispose of their money.
The Bank of Russia repeatedly applied in relation to a credit institution Supervisory response measures. including restrictions and a ban on attracting deposits of the population.
In accordance with the order of the Bank of Russia in the “Education” 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 are suspended.
“Fines Bank”, according to statements by total assets of April 1, 495 took place in the banking system of the Russian Federation. The participant of system of insurance of deposits the Bank is not.
“Fines Bank” was a calculated center of one of the payment systems, however, did not relate to credit institutions recognized by Bank of Russia relevant on the market of payment services. The Bank’s activity was mainly focused on dubious transactions with the ultimate goal of which was “shadow” sale cash, says regulator.
High involvement of credit institutions in dubious transactions for a long time and increase their volume in terms of systematic non-compliance with Supervisory authority introduced restrictions testified about the absence of intentions of management and the owners of the Bank to implement measures to normalise its activities, the report says.
In accordance with the order of the Bank of Russia in “Fines Bank” 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 are suspended.