Central bank says increases UFC Bank capital gap to 21.9 bln rbl - Financial Wire - 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

Central bank says increases UFC Bank capital gap to 21.9 bln rbl

MOSCOW, Sep 10 (PRIME) -- The central bank has increased a capital gap at Moscow-based United Financial Capital Bank (UFC Bank), RussiaТs 127th by assets, which lost its license in April, to 21.9 billion rubles from an earlier estimate of 17.5 billion rubles, the regulator said on Monday.

The bankТs assets stood at 6.288 billion rubles, while liabilities reached 28.216 billion rubles, the regulator said.

UFC Bank used a risky business model based on lending to producers and distributors of alcoholic beverages and financed mutually dependent companies in the industry using schemes to escape restrictions by the central bank, the regulator said earlier. The bank also repeatedly violated criminal income legalization and the terrorism financing law by failing to provide information on operations subject to obligatory control and trustworthy reports to the central bank on time.

(69.0286 rubles Ц U.S. $1)

End

10.09.2018 14:19
 
 
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