The CBR revoked the license of the NCO “top Credit”


Moscow. November 10. The Central Bank withdrew the license for banking operations non-banking credit organization “top Credit”, the report said the Central Bank.

License revoked from 10 November.

The Central Bank explained that NGOs “top Credit” conducted high-risk lending policy connected with placement of funds into low-quality assets.

“As a result of execution of requirements of Supervisory authority on creating provisions adequate to accepted risks the credit institution lost a significant part of own funds (capital)”, – stated in a press release.

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

The NRA appointed a temporary administration, the powers of the Executive bodies are suspended.

NPO “top Loan” on October 1, took 757-nd place by assets in Russia’s banking system.