The Bank of Russia revoked the license of the banks “Commonwealth” and “LADA-Credit”


MOSCOW, October 16. The Bank of Russia has withdrawn from 16 October 2015, the license for banking operations in Moscow Bank “Commonwealth”, is spoken in the message of the regulator.

According to the Central Bank, with a poor quality of assets the Bank did not adequately evaluated taken in connection with these risks. Appropriate credit risk assessment on the request of the Supervisory authority revealed the complete loss of own means (capital) of the Bank.

The management and owners of the credit institution failed to take efficient measures to normalise its activities, notes the regulator.

In accordance with the order of the Bank of Russia, Bank of the Commonwealth, appointed a temporary administration valid up to the date of appointment of the bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution are suspended.

The Bank “Commonwealth” is a member of the Deposit insurance system. According to statements by total assets of the Bank on October 1, 2015 378 took place in the banking system of the Russian Federation.

Also, the Central Bank revoked the license of the Moscow Bank “LADA-Credit”