The CBR revoked the license of the Moscow Bank “the Eurocredit”

Moscow. December 4. The Central Bank of Russia withdrew the license for banking operations in Moscow Bank “Eurocredit”, – stated in the message of the Central Bank.

License revoked 4 December.

The Central Bank explains that the Bank “has placed funds into low-quality assets and create adequate accepted risks reserves for possible losses”.

“Dosoznanie reserves in the required amounts led to a complete loss of capital. In addition, the credit institution was involved in questionable conduct of transit operations in significant volumes,” reads the press release.

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

The Bank “Eurocredit” in the first three quarters of 2015 344 takes place in terms of assets in ranking “Interfax-100”.