The Central Bank revoked the license of the Moscow Bank “the Credit-Moscow”. The license to conduct banking operations revoked from 22 July, the report said the Central Bank.
“The credit-Moscow”, according to the Bank of Russia, did not execute Federal laws regulating banking activities. “With a poor quality of assets the Bank “Credit-Moscow” inadequately assessed in connection with these risks. Proper assessment of credit risk by the supervisor’s request revealed a complete loss of capital,” — said the Central Bank.
The Bank appointed a temporary administration. “The credit-Moscow” participates in the Deposit insurance system, as of 1 July 2016 the amount of assets he held 285 place in the Russian banking system.