MOSCOW, August 3. /Basereporter.com/. The Bank of Russia by order of 3 August 2018, withdrew the license for banking operations of the Moscow New industrial Bank is not a member of the Deposit insurance system. According to statements by total assets at 1 July credit had occupied 441 th place in the banking system of the Russian Federation, is spoken in the message of the regulator.
According to the Central Bank, the problems in the Bank’s activities appeared due to the use of a risky business model, which led to the formation of the organization’s balance sheet a large amount of low-quality assets. The Bank held the “scheme” transactions with the owners who wanted to hide the real financial situation in formal compliance with prudential standards, set by the regulator.
In addition, the work of the New industrial Bank also found violations of requirements of normative acts of the Bank of Russia in the field of combating the legalization (laundering) of incomes obtained in a criminal way and financing of terrorism. As noted in the message of the regulator, the Bank was actively involved in the dubious transactions.
The Bank of Russia repeatedly (three times in the last 12 months) was used for a New industrial Bank Supervisory measures of exposure. However, managers and owners of the credit institution did not take effective measures to stop dubious and circuit operations and the normalization of its activities, adds the regulator.
The Central Bank has entered into a temporary Bank administration, suspending the powers of the Executive bodies of the credit institution.