CBR revoked the licenses of four Moscow banks

CBR revoked the licenses of four Moscow banks


Moscow. 9 Dec. CBR revoked the license for banking operations of the four Moscow banks: VEGA-Bank, M2M private Bank, International development Bank and Bank “Russian financial Alliance”, is spoken in the message of the regulator.

Licence revoked 9 December.

VEGA-Bank

“When poor asset quality of KB “VEGA-Bank” inadequately assessed risks. In addition, the credit institution does not comply with the requirements of the legislation and statutory acts of Bank of Russia in the field of combating the legalization (laundering) of incomes obtained in a criminal way and financing of terrorism in parts of timely and quality submission of information to the authorized body”, – stated in the message of the Central Bank.

In addition, the Bank was involved in questionable conduct operations. The management and owners of the credit institution did not take effective measures to normalize its activities.

In VEGA Bank appointed a temporary administration, the powers of the Executive bodies of the Bank suspended. VEGA-Bank is the participant of system of insurance of contributions.

In the third quarter of 2016 VEGA-Bank takes 258 place in terms of assets in ranking “Interfax-100” prepared “Interfax-TSEA”. According to the Central Bank of the Russian Federation on 1 November, the Bank was ranked 304th place.

M2M private Bank

M2M private Bank placed funds in low-quality assets and has not created adequate accepted risks reserves, said the Central Bank. The Bank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator.

The Bank is the participant of system of insurance of contributions.

The main shareholder of M2M private Bank Asian-Pacific Bank (ATB). November 11, ATB reported that together with the Central Bank of the Russian Federation develops a mechanism for the normalisation of the situation in that his “daughter”, which is experiencing difficulties with making payments. The normalization of the situation, as expected, will include the recapitalization of M2M private Bank.

The main shareholders of ATB are the Peter Hambro, Pavel Maslovskiy and Andrey Vdovin. Among the minority shareholders in East Capital Financial Funds and the IFC.

M2M private Bank for the first three quarters of 2016 took the 155th place in terms of assets in ranking “Interfax-100”, ATB – 49-e a place.

International Bank of development

“CB “international Bank of development” (JSC) conducted high-risk lending policy connected with placement of funds into low-quality assets. As a result of execution of requirements of Supervisory authority about formation of the necessary reserves for possible losses in activity of the credit organization have any grounds for implementing measures to prevent insolvency (bankruptcy)”, – notes the regulator.

In connection with the unsatisfactory quality of assets not generating sufficient cash flow, the Bank was unable to timely fulfill obligations to creditors, it is also mentioned in the message of the Central Bank.

The Bank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator. The Bank is the participant of system of insurance of contributions.

The international development Bank (IDB) for the first three quarters of 2016 took the 406-th place in terms of assets in ranking “Interfax-100”. According to the Bank of Russia for November 1, this credit had taken a 423-nd place by assets in the Russian banking system.

Russian financial Alliance

According to the regulator, due to the unsatisfactory quality of assets not generating sufficient cash flow, the Fi has been unable to timely fulfill obligations to creditors.

“Besides, the credit organization ignored the requirements of the Supervisory authority on presentation to the Bank of Russia as reliable statements reflecting its real financial position. The management and owners of the credit institution did not take effective measures on normalization of its activity”, – notes the regulator.

The Bank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator.

The Bank “Russian financial Alliance” in the first three quarters of 2016 took the 558-th place in terms of assets in ranking “Interfax-100”. According to the Bank of Russia for November 1, this credit had taken a 545-th place by assets in the Russian banking system.

Source