Russia’s cbank revokes license of Krasnoyarsk-based Enisey Bank

MOSCOW, Feb 9 (PRIME) -- Russia’s central bank has revoked a license from Krasnoyarsk-based Enisey Bank, ranked 254th by assets as of January 1, the authority said in a statement on Thursday.

Enisey Bank did not comply with federal laws on regulation of banking activity and the central bank’s regulations and also provided inaccurate data to the regulator.

The bank conducted a high risky lending policy connected with investing money in low quality assets and failed to create proper reserves against possible risks. The bank also improperly assessed its risks and lost its capital after an appropriate estimation of risks.

Enisey Bank is a participant of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation. Payments to depositors of the bank will start no later than on February 22, the Deposit Insurance Agency (DIA) said in a statement.

(59.5129 rubles – U.S. $1)

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