The Central Bank revoked the license of Moscow, MBR-Bank

The Central Bank revoked the license of the Moscow IDB Bank, reports on the regulator’s website.

Over the past year, the Bank-the Bank has repeatedly committed violations of banking legislation and regulatory acts of the Central Bank in assessing credit risk and making provisions for possible losses on loans, the report says. Thus the credit organization made a decrease for three consecutive months, the amount of own funds (capital) below the minimum established by the law on banks and banking activities.

The leadership and owners of the credit institution have not taken measures to increase own funds (capital) of the Bank to the value specified by the Federal law in the amount of 300 million rubles, and was not made the decision to change the status of the Bank on the status of non-Bank credit organizations.

According to statements by total assets of IDB Bank on June 1 of the current year took place 600 in the Russian banking system.