The Central Bank revoked the license of Gazstroibank

The Bank of Russia revoked the license of a credit institution “Gazstroibank” and appointed a temporary administration. This was reported on the website of the regulator.

The Central Bank said that the Bank did not execute Federal laws regulating Bank activity, and statutory acts of Bank of Russia, as well as creating real threat to interests of creditors and depositors.

The Central Bank also argues that Gazstroibank conducted high-risk lending policies by placing funds in low-quality assets. As a result, the company had to take measures to prevent bankruptcy.

In addition, the credit institution was involved in dubious transactions, and the management and owners of Bank have not undertaken necessary measures to normalize its activities, the report said.

“In the circumstances, the Bank of Russia made the decision on the withdrawal of CJSC JSCB Gazstroibank” banking market”, — concluded in the CBA.

Gazstroibank — the participant of system of insurance of contributions. According to the Bank, took the 335 th place in the Russian banking system.