The Central Bank revoked the license of the Moscow Centrobanca


The Bank of Russia took a decision to recall from September 26 of the license for banking operations of the Moscow Central commercial Bank. This was reported on the website of the regulator.

According to statements of Centrobanca by total assets on September 1, 2016, the credit institution took 206 place in the Russian banking system.

The decision to revoke the license was made in connection with default by Bank of Federal laws regulating Bank activity, and statutory acts of the Central Bank, repeated violation within one year of the requirements of the law on combating the legalization of income obtained by criminal means, as well as regulations of the regulator, stated in the message of the Central Bank.

The regulator notes that Zentralbank pursued a risky policy of placing funds in low-quality assets.

The Bank appointed a temporary administration, the powers of the Executive bodies of the Bank suspended.

Zentralbank is the participant of system of insurance of contributions. In accordance with the law, the depositors of the Bank provided for the payment of insurance compensation 100% of the remaining balance, but not more than 1,4 million rubles in aggregate per depositor.

Source