The Central Bank revoked the license of the Moscow «ivy Bank»

© RIA Novosti / Natalia to Seliverstova in photobacteria Central Bank of Russia. Archival photoThe Central Bank revoked the license of the Moscow «ivy Bank»© RIA Novosti / Natalia to Seliverstova the image Bank

The Bank of Russia on may 29, withdrew the license for banking operations from Moscow’s «ivy Bank», is spoken in the message of the regulator.

The decision to revoke the license was made in connection with default by the credit organisation of the Federal laws regulating Bank activity, and statutory acts of Bank of Russia; in addition, taken into consideration the presence of real threat to interests of creditors and depositors, says the regulator.

As reported by CBR, the business model of «ivy Bank» was pronounced captive in nature and largely focused on lending to high-risk borrowers, directly or indirectly, the ultimate beneficiaries of the credit institution.

Committed credit institution operations and the transaction resulted in the Bank’s activity grounds for implementation of measures on prevention of insolvency (bankruptcy) and has created real threat to interests of its creditors and depositors, according to the Central Bank.

The Bank of Russia also indicates that it has repeatedly used in relation to a credit institution Supervisory response measures. including restrictions and a ban on attracting deposits of the population. Implemented by management and owners of the Bank measures its activities recognized Supervisory body ineffective and insufficient. In the circumstances, the regulator adopted the decision on the withdrawal of «ivy Bank» with the banking market. The Bank appointed a temporary administration.

The Bank is the participant of system of insurance of contributions. By total assets, according to Central Bank data, the Bank on may 1, 2017 432 took place in the banking system of the Russian Federation.

The Central Bank revoked the license of the Moscow «ivy Bank»Reviews of licenses of banks of Russia