The Central Bank revoked the license of the Russian trust Bank

The Bank of Russia has withdrawn since August 16, the license for banking operations of Russian trust Bank. Information about this is available on the website of the regulator. The decision is accepted in connection with default by Bank of laws regulating banking activities, regulations of the Central Bank, the value of the ratios of capital adequacy below 2%, decrease in capital below the minimum share capital, according to the website of the Bank of Russia.

“With a poor quality of assets of JSCB Russian Trust Bank” (JSC) inadequately assessed in connection with these risks. Proper assessment of credit risk by the supervisor’s request revealed the complete loss of own means (capital) of the Bank”, — stated in the message of the Central Bank. It is noted that the Bank’s management has not taken effective measures to normalize its activities.