The «hole» in the Bank «Severo-East Alliance» made up 638,6 million rubles

© RIA Novosti / Natalia to Seliverstova in photobacteria the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe «hole» in the Bank «Severo-East Alliance» made up 638,6 million rubles© RIA Novosti / Natalia to Seliverstova the image Bank

The total difference between value of liabilities and assets of the Moscow Bank «Severo-East Alliance», who lost his license in August, was 638,62 million rubles, according to the Bank of Russia Bulletin.

The Bank’s assets, according to the survey, amounted to 1,305 billion, liabilities 1,944 billion rubles.

The Bank of Russia from August 21, withdrew the license for banking operations of the Bank «Severo-East Alliance» due to the inability to timely fulfill obligations to its creditors, which served as the basis for the implementation of measures on prevention of bankruptcy.

The Bank has systematically underestimated the value of the accepted credit risk and evaded the execution of the supervisor’s requirements on creating provisions for possible losses, adequate, taken risks, through technical transformation of assets, noted the regulator. The Bank of Russia repeatedly applied against the Bank «Severo-East Alliance» measures of supervising response primarily associated with additional formation of reserves for possible losses on different assets.

It was also noted that the lack of owners of the Bank’s intentions to implement real measures to stabilize the financial situation of the credit institution indicates the futility of further activities of the Bank. The Bank appointed a temporary administration.

By total assets, according to Central Bank data, as of 1 August the Bank «Severo-East Alliance» took the 250-th place in the Russian banking system.

The «hole» in the Bank «Severo-East Alliance» made up 638,6 million rublesReviews of licenses of banks of Russia