The Bank of Russia revoked the license of the Moscow Mitrastema

The Bank of Russia revoked the license of the Moscow Mitrastema

MOSCOW, January 29. The Bank of Russia has withdrawn from 29 January 2016 the license for banking transactions from Moscow Commercial interregional trust Bank (Intertrustbank), is spoken in the message of the regulator.

According to the Central Bank, the Bank conducted high-risk lending policies and create adequate accepted risks provisions for possible losses on loans. The adequacy of own funds (capital) of the Bank decreased to critical values.

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The banking system of the Russian Federation has lost in 2015, almost one hundred banks

In connection with liquidity loss the credit organisation fails to perform the obligations to creditors. In addition, the Bank was involved in questionable conduct transit operations in large volumes.

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

In accordance with the order of the Bank of Russia, in Intertrustbank 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.

Intertrustbank is a member of the Deposit insurance system. According to statements by total assets of the Bank on January 1, 2016 329 took place in the banking system of the Russian Federation.

Payment of insurance compensation to depositors will start no later than February 12, according to the Agency for Deposit insurance (DIA).

For operative reception of statements of citizens and the fastest possible payment of compensation on deposits DIA intends to use the agent banks.

In accordance with the decision of the Board of ACB such agent banks will be selected on a competitive basis, not later than 4 February. The application for payout of insurance indemnity can be lodged by the depositors during the entire period of liquidation of the Bank.

Temporary administration in the Bank “Intercommerz”

The Bank of Russia also said that it has appointed on Friday a temporary administration in the Bank “Intercommerz” for a period of six months.

This decision was made in connection with a reduction of own funds (capital) of credit organizations compared to their maximum value reached in the last twelve months, more than 30%.

The regulator notes that the primary task of the interim administration will be surveying the financial position of the Bank.

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The banking system of the Russian Federation in 2015. Dossier