Photo: Lori
On June 1, 2015 the Central Bank has deprived Moscow Metrobank license to conduct banking operations, it said in a statement on the website of the regulator. CB explained his decision by the credit institution failure of federal laws regulating banking activities, and regulations of the Bank of Russia, using for one year the measures envisaged by the federal law “On the Central Bank of the Russian Federation” as well as “a real threat to the interests of creditors and depositors.”
According to the regulator, Metrobank conducted high-risk lending policy and did not create adequate risk taking reserves for possible loan losses. Due to the poor quality of assets that do not generate enough cash flow, credit organization regularly admits cases of untimely fulfillment of obligations to creditors and depositors.
In accordance with the order of the Bank of Russia in Metrobank appointed interim administration is valid until the appointment of bankruptcy manager or liquidator. The powers of the executive bodies of the credit institution are suspended.
Metrobank was established in 1993 under the name Color-Bank in the form of a joint stock company. In May 2005, he joined the deposit insurance system. According to the report, in terms of assets Metrobank on May 1, 2015 took 248 th place in the Russian banking system.
The Bank has suspended the issuance of funds to depositors of 25 May, since the pre-registration was carried out only for a deposit.
Earlier on Monday became aware of the revocation of licenses from June 1, another two Russian banks – Tyumen and Moscow Sibneftebank PKO Bank.
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