The Central Bank withdrew the license at Bank “spurt”

Moscow. July 21. INTERFAX.RU Bank of Russia withdrew the license for banking operations of the Bank “spurt” (Kazan), is spoken in the message of the Central Bank.

License revoked July 21.

“State Corporation “Agency for deposits insurance” (ASV), which by order of the Bank of Russia imposed temporary administration to manage the credit organization carried out a survey of the financial situation of the Bank. The result of the survey was an objective reflection of the value of the assets in the financial statements of the credit institution, which led to a complete loss of its equity (capital)”, – stated in the message.

It is noted that the current situation is a consequence of the low diversification of the assets of the credit institution – a significant part of the credit portfolio of the Bank was aimed at financing large investment projects under the control of the beneficiary of the Bank’s businesses, financial position which now is estimated as critical.

The Bank of Russia repeatedly applied in respect of “Spurt” Supervisory response measures., however the management and owners of Bank didn’t take effective action, aimed at normalizing its activity.

The evaluation of ASV, the financial health of the Bank is not economically feasible because of the extremely low quality of assets, the magnitude of the detected imbalance between the amounts of assets and liabilities, taking into account the inability of credit institutions to ensure continued compliance with the requirements of the lenders.

Of the interim administration in the face of ASV is discontinued. The Bank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution in accordance with the Federal laws are suspended.

The Bank “spurt” is the participant of system of insurance of contributions.

Earlier it was reported that the Central Bank of the Russian Federation from April 28 laid on the DIA temporary administration on management of Bank “spurt” for a period of six months. Simultaneously, the Central Bank imposed a moratorium on satisfaction of requirements of creditors “Spurt” for a period of three months.

The Bank “spurt” in the I quarter of 2017 took the 159th place in terms of assets in ranking “Interfax-100” prepared “Interfax-TSEA”. According to the Bank of Russia on 1 July of the current year by total assets of the credit organization took 183 place in the banking system of the Russian Federation.