Date: 2 months ago   Category: Finance

The Central Bank has revoked the license from Bank of trade financing — Rambler News Service


The Central Bank has revoked the license from Bank of trade financing
Photo: Mikhail of Pochuyev/TASS the Bank of Russia since September 28 has revoked the license for implementation of bank activity from the Bank of Trade Financing (BTF) from Moscow, it is told in regulator materials. The bank is a participant of a deposit insurance system. "The business model of JSC CB" BTF" has been substantially focused on service of interests of its shareholders and connected persons. The loan debt of the companies directly or indirectly connected with final beneficiaries of credit institution made about 45% of the loan portfolio. Crediting of these borrowers has led to education on balance of bank of considerable volume of idle assets, including the real estate considered at the overstated cost" — the Central Bank reports. The Bank of Russia has noted that objective reflection of cost of the real estate objects belonging to bank has revealed essential deterioration in financial performance of bank which demonstrates existence in his activity of the bases for implementation of measures for prevention of bankruptcy, and poses a real threat to the interests of investors and creditors of BTF. "Besides, the bank systematically carried out the transactions, opaque to supervisory authority, directed to concealment of actual volume of the accepted credit risks and ensuring formal respect for prudential norms of activity" — have added to the Central Bank. The Central Bank repeatedly applied to bank of a measure of supervising influence, in particular introduced restrictions for attraction of money of natural persons twice. In bank the temporary administration until appointment of the receiver or appointment of the liquidator is appointed, the Bank of Russia notes. According to data of the reporting, as of September 1, 2018 in size of assets the bank took the 292nd place in a banking system of Russia.

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