Nabiullina explained why the Central Bank revoked the license of the «Ugra»

© RIA Novosti / Maxim to Aminopherase in Photobacterium Bank Yugra in Moscow. Archival photoNabiullina explained why the Central Bank revoked the license of the «Ugra»© RIA Novosti / Maxim to Aminopherase the image Bank

Review by the Bank of Russia of the license of the Bank «Ugra», which was part of the top 30 largest Russian banks, was the natural result of the actions of its owners, the Bank would not be viable even in the case of capitalization, this case cannot be compared with the Bank «Opening», said the head of the CBR Elvira Nabiullina at a forum of the Association of Russian banks.

«In the middle of the year we made the decision first, the introduction of an interim administration and then the revocation of the license of the Bank «Ugra». This case is one of extremely unpleasant in a series of reviews for the irresponsible behavior of owners who have created pocket banks for the financing primarily of their projects, but actively, in the case of «Ugra» — extremely aggressive — bypassed and the limitations of the regulator, raising funds of depositors,» she said.

«Credit portfolio of the Bank «Ugra» was low quality, and most of the mortgage collateral was decorated with signs of overvaluation. Proposed by the owners of the rescue plan did not meet the requirements of the legislation and, indeed, assumed long-term ten-year government subsidies, in fact, the business projects of the group of individuals in separate sectors. And revocation of license was the logical result of the actions of the owners and managers of the Bank», — said the head of the regulator.

«The question is often asked why the «Yugra» has revoked the license, and «Discovery» is sanitized. The first «Ugra» is not a systemically important Bank, «Opening» is, it is one of the largest banks in the country,» she said. The situation in the «Discovery» affects many banks in Russia, as well as on pension funds and insurance companies, unlike the Bank «Ugra», which even in the case of a capital increase would not be viable, said Nabiullina.

Insurance case with the Bank «Ugra», which the Central Bank since July 28, revoked the license, was the largest for the period of clearing the banking system of the Russian Federation. DIA has estimated the total amount of payments to 169,2 billion. And on August 29, the Central Bank announced measures to rescue the Bank «FC Opening», until recently, the former largest private Bank in Russia. This will be the first rehabilitation using a new mechanism — the Bank of Russia, investing established in the year of the Foundation of the consolidation of the banking sector will become the main shareholder of «Discovery».Nabiullina explained why the Central Bank revoked the license of the «Ugra»Reviews of licenses of banks of Russia

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