The Central Bank revoked the license of Moscow of OFK Bank

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

The Bank of Russia from April 16, withdrew the license for banking operations of the Moscow Bank «joint financial capital» («OFK Bank»), is spoken in the message of the regulator.

The Bank of Russia on March 21 imposed a moratorium on satisfaction of creditors «OFK Bank» for a period of three months and imposed a temporary administration in the face of «Agency on insurance of contributions» for six months. The regulator took this decision to protect the interests of creditors and depositors of the Bank.

The Bank is the participant of system of insurance of contributions. By total assets, according to RIA Rating, «OFC Bank» on March 1, has occupied 103-e a place in the Russian banking system.

«The implementation of the financial recovery procedure at PJSC «Bank OFK» with the involvement of the state Corporation «Agency for deposits insurance» a credit institution deemed economically unfeasible due to the extremely low asset quality and a significant imbalance between the value of assets and liabilities, and also considering the inability of the Bank to ensure continued compliance with the requirements of the creditors», — is spoken in the message.

The decision to revoke the license was made in connection with default by Bank of requirements of the Russian legislation and normative acts of the Central Bank, regulating banking activities, including in the field of combating the legalization (laundering) of incomes obtained in a criminal way and financing of terrorism in part of non-compliance with the obligation to identify transactions subject to mandatory control, as well as the timeliness and reliability of submitted to the authorized body information. In addition, the value of all the adequacy of own funds (capital) was below two percent, and the size of own means (capital) below the minimal value of the share capital.

As noted by the regulator, problems in activities of OFK Bank arose in connection with the use of a risky business model focused on lending to companies in the sector of production and distribution of alcoholic beverages. The management and owners of Bank didn’t take effective action, aimed at normalizing its activity. Moreover, one of the causes of financial instability of OFK Bank was a corporate conflict, the consequence of which was the failure or the failure of the largest borrowers to service their obligations towards the credit institution.

The Bank is the participant of system of insurance of contributions. By total assets, according to Central Bank data, the Bank on April 1, occupied the 127-th place in the Russian banking system.

The Central Bank revoked the license of Moscow of OFK BankGo to fotobanka.cz the licenses of banks of Russia

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