The Bank of Russia revoked the license of the Moscow PRISCO Capital Bank, said in a statement on the website of the Central Bank.
The credit institution implemented high-risk lending policy connected with placement of funds into low-quality assets. The result of forming reserves, adequate, taken risks, the Bank has completely lost its own funds (capital). However, he did not fulfill the requirements of the Supervisory authority in terms of restrictions on the exercise of individual operations aimed at protecting the interests of depositors.
The Bank is the participant of system of insurance of contributions. According to statements by total assets PRISCO Capital Bank was ranked 354-th place in the Russian banking system.
The Central Bank revoked the license of another Moscow Bank “InterCredit”, who held the 463-th place by assets.
In connection with loss of liquidity the Bank did not provide timely fulfillment of obligations to creditors. He also has not fulfilled the requirements for the submission of accurate statements reflecting the true financial position, stated in the message controller.