The Central Bank revoked the license of the «International Bank of Saint-Petersburg»

© RIA Novosti / Vladimir Astapkovich in photobacteria the Central Bank of the Russian Federation. Archival photo<img src="/wp-content/uploads/sites/5/2018/10/62e6756b4b271a036680d8b5fdb25287.jpg" alt="The Central Bank revoked the license of the «International Bank of Saint-Petersburg»” />© RIA Novosti / Vladimir Astapkovich the image Bank

The Bank of Russia from October 31, withdrew the license for banking operations of the «International Bank of Saint-Petersburg» (IBSP Bank, St. Petersburg), says the message of the regulator.

The Bank of Russia from October 15, laid on the DIA the functions of the provisional administration to manage the mbsp for a period of six months due to his precarious financial situation. Simultaneously, the Central Bank three-month moratorium on satisfaction of requirements of creditors of the Bank.

The decision is accepted in connection with default by Bank of requirements of the legislation of the Russian Federation and normative acts of the Central Bank, the value of all the adequacy of own funds (capital) below 2%, decrease in the size of own means (capital) below the minimum capital specified on the date of registration.

«Problems in the activities of the credit institution, the Bank IBSP Bank (JSC) arose in connection with the use of a risky business model, resulting in its balance sheet a significant amount of problem assets, including derivative financial instruments and unofficial (fake) requirements to non-resident companies. Formation at the request of the Supervisory body provisions adequate to accepted risks revealed complete loss of the Bank’s own funds (capital)», — stated in the message.

The Bank of Russia twice in the last 12 months was applied to the mbsp measures and Supervisory influence, including imposed restrictions on attraction of money resources of the population. State Corporation Agency on insurance of contributions (ASV), which is entrusted with functions of the provisional administration to manage the Bank conducted a survey of its financial position, the results of which revealed a significant imbalance between the value of the assets and liabilities of the Bank amounted to more than 15.5 billion.

By total assets, according to Central Bank data, the Bank on October 1, occupied 116-e a place in the Russian banking system.

Source