The Bank of Russia revoked the license of Stella-Bank, which is registered in Rostov-on-Don. This is stated in a press release published on the website of the Central Bank.
The Central Bank explained that the credit institution is held high-risk lending policies and did not create reserves, which would be adequate to the risks taken. In addition, the bank failed to comply with the Central Bank requirements relating to internal control and the provision of reliable information on transactions subject to mandatory control.
Central Bank considers that the activities of Stella-Bank was focused on the aggressive involvement of funds of the population. After the introduction of restrictions and prohibitions on the attracted deposits continued to attract them, including in the internal structural subdivisions in Moscow. This rate significantly higher than the market level.
According to the report data, the largest Stella bank held 467 th place in the Russian banking system. The Bank participates in the deposit insurance system. According to the Deposit Insurance Agency (DIA), payments to depositors of Stella-Bank will begin no later than the 28th of April.
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