Russian cbank revokes license from New Industrial Bank - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian cbank revokes license from New Industrial Bank

MOSCOW, Aug 3 (PRIME) -- RussiaТs central bank has revoked a banking license from Moscow-based New Industrial Bank, ranked 441 by assets as of July 1, the regulator said on Friday.

The bank did not comply with federal laws regulating banking activities and the central bankТs legal acts, including on money laundering and terrorism financing.

New Industrial Bank used a risky business model, which led to formation of a significant volume of low-quality assets on its balances.

The bank was also involved in dubious transit operations, while its owners and managers did not take efficient measures to normalize its operations.

The bank is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation.

(63.1358 rubles Ц U.S. $1)

End

03.08.2018 09:36
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 70.6040 -0.0655 18 sep
USD 64.1213 +0.2941 18 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1377.12 -1.36 17:11 17 sep
micex 2812.11 -0.78 17:11 17 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 233.42 -0.62 16:51 17 sep
lkoh 5476.50 -1.48 16:51 17 sep
rosn 427.30 -0.56 16:51 17 sep
sber 235.64 +0.14 16:50 17 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 70.6875 +0.0150 14:59 17 sep
USDTD 64.0000 -0.2725 17:44 17 sep