Source: Russian cbank cuts 2 small banks off rapid payment system

MOSCOW, Feb 14 (PRIME) -- The central bank has disconnected North-West 1 Alliance Bank, Russia’s 534th by assets, and Oil Alliance Bank, the country’s 207th largest, from the electronic rapid payment system, a measure often preceding license revocation, a banking source told PRIME on Tuesday.

St. Petersburg-based North-West 1 Alliance Bank is an affiliate of Forus Bank, which lost its license on December 19. As of the beginning of the year, the bank’s equity amounted to 318 million rubles, while the minimum allowed threshold is 300 million rubles. The bank received a 144 million ruble loss in 2016.

Moscow-based Oil Alliance Bank suffered a 1.34 billion ruble loss in 2016. According to the bank’s report, households keep 4.24 billion rubles on deposits with the bank. On February 10, a representative of the bank said Oil Alliance Bank stopped redemption of deposits on first notice due to problems with cash. An official representative of the bank said that the central bank restricted Oil Alliance Bank’s reception of deposits from households and individual entrepreneurs.

(58.0619 rubles – U.S. $1)

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