The shares of these banks fell by more than 30% after the revocation of the license


Moscow. November 10. The campaign “Regional development Bank” (RBR) on Tuesday fell by more than 30% after the CBR has withdrawn from November 10 to the Bank for a license to conduct banking operations.

On the Moscow stock exchange price of shares of these banks fell to 2.97 rubles apiece (-32,7%), low transactions amounted to 2.7 per ruble, volume of trading exceeded amounted to 2.37 million rubles.

In a press release the Central Bank explains that these banks have placed funds in low-quality assets and create adequate accepted risks reserves.

The Bank was represented in the oversight body is essentially false statements, hiding the existence of grounds for revocation of licenses for banking operations. “The management and owners of the Bank has not taken the necessary measures to normalize its business”, – stressed the Governor.

The Bank appointed a temporary administration, the powers of the Executive bodies are suspended. The Bank is a participant of the Deposit insurance system.

In connection with the withdrawal of the licenses of these banks, the Moscow exchange since November 11, suspends trading of shares of PJSC JSCB “RDBs”.