Russian cbank revokes license from Yaroslavl Region small bank
MOSCOW, Jan 25 (PRIME) -- Russia’s central bank has revoked a banking license from the Yaroslavl Region-based commercial bank Evrokapital-Alliance, ranked 322nd by assets as of January 1, the regulator said on Friday.
Evrokapital-Alliance did not comply with federal laws regulating banking activities and the central bank’s legal acts.
The bank focused on providing banking guarantees through attracting a narrow circle of agents on non-market conditions. Its portfolio of banking guarantees amounted to around 9 billion rubles and exceeded the bank’s shareholders’ equity by more than seven times. The bank failed to properly estimate its loan risks and was also involved in dubious transit operations.
The central bank also uncovered signs of unscrupulous actions by the bank’s management on withdrawal of liquid assets with damage to the interests of creditors and depositors.
Evrokapital-Alliance is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation. Payments to depositors will start no later than on February 8, the Deposit Insurance Agency (DIA) said.
(66.0016 rubles – U.S. $1)
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