The CBR revoked the license of Ergobank for loss of capital

The CBR revoked the license of Ergobank for loss of capital


MOSCOW, January 15. The Bank of Russia has revoked as of 15 January 2016 the license for banking operations at the Moscow Ergobank, is spoken in the message of the regulator.

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According to the Central Bank, with a poor quality of assets of Ergobank inappropriately assessed credit risks taken. Appropriate credit risk assessment on the request of the Supervisory authority revealed the complete loss of own means (capital) of the Bank.

Ergobank is a member of the Deposit insurance system. According to statements by total assets of the Bank by 1 December 2015, 321 took place in the banking system of the Russian Federation.

Payments to depositors

Insurance reimbursement to the depositors of the Moscow Ergobank will begin no later than 29 January 2016, according to the Agency for Deposit insurance (DIA).

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For operative reception of statements of citizens and the fastest possible payment of compensation on deposits DIA intends to use agent banks, which by decision of the Board of the DIA will be selected on a competitive basis no later than January 21, 2016.

The insurance indemnity is paid to the depositor in the amount of 100% of the sum of all his accounts (deposits) of the Bank, including open for business activity, but not more than 1,4 million rubles in total. By Bank Deposit (account) in foreign currency insurance indemnity is calculated in rubles at the exchange rate as of the day of revocation of the license is January 15, 2016.

Liquidity problems

On 11 January it was reported that Ergobank experiences difficulties with liquidity, resulting from the suspension of reception of deposits and renewed deposits.

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“The Board of Directors is considered by the management Board prepared the financial recovery Plan. Currently work is underway in two main variants: the entry in the Bank’s capital to new investors and change development strategy (reduction network, orientation on legal entities and financial markets)”, – noted in the Bank reports with reference to Chairman of the Board Vyacheslav Barmin.

Background

Ergobank is the 311-th place among Russian banks by assets. Credit organization of small capital is a financial institution that focuses on the development of the sales network in Moscow and growth in lending to corporate and private clients.

See also

The banking system of the Russian Federation in 2015. Dossier