The Central Bank revoked the licenses of four Moscow banks, according to the website of the regulator.
In particular, revoked the licenses of M2M private Bank, which, according to the financial statements, on November 1 of the current year was ranked 164-th in the Russian banking system by total assets.
The credit institution, as explained in Bank of Russia, placed funds in low-quality assets and has not created adequate accepted risks provisions. In connection with the unsatisfactory quality of assets the Bank did not provide timely fulfillment of obligations to creditors.
As reported by the Central Bank, since July of this year the owner of 100% of the shares of M2M private Bank Asia-Pacific Bank (ATB Bank). For some time the parent Bank has provided M2M private Bank liquidity support, but in October, the Central Bank imposed restrictions on loans to prevent further expenditure of capital and liquidity the Bank ATB. It is possible to stop the cost of Asian-Pacific Bank to support M2M private Bank and prevent a threat to the financial stability of the parent Bank, said the regulator.
Also revoked the license of the Moscow VEGA-Bank, which, according to statements by total assets on 1 November it was ranked 304th place in the Russian banking system.
As stated in the press release with a poor quality of Bank assets are inadequately assessed risks. A credit institution does not comply with the requirements of the legislation and normative acts of the Central Bank 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. In addition, VEGA-Bank was involved in questionable conduct operations.
In addition, the Central Bank revoked the license of the International development Bank, which on November 1 of the current year, according to statements by total assets 423 took place in the Russian banking system.
International Bank of development, according to the regulator, pursued high risk credit 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). In connection with the unsatisfactory quality of assets not generating sufficient cash flow, the Bank was unable to timely fulfill obligations to creditors.
Revoked license of the Bank “Russian financial Alliance”, which by total assets, according to statements 545 took place in the Russian banking system.
Due to the unsatisfactory quality of assets not generating sufficient cash flow, the credit institution was unable to timely fulfill obligations to creditors. However, she ignored the requirements of the Supervisory authority on the presentation in the CBA accurate statements reflecting its real financial position, notes the regulator.
M2M private Bank, VEGA-Bank and international development Bank are participants of system of insurance of contributions.