Date: 3 months ago   Category: Finance

The Central Bank has revoked the license from the Circassian K2 of Bank — Rambler News Service


The Bank of Russia since August 31 has revoked the license for banking operations from K2 of Bank from the city of Cherkessk, it is told in regulator materials. The bank isn't a participant of a deposit insurance system. "K2 Bank (autonomous area) was monogrocery credit institution which business model concentrated on providing bank guarantees with attraction of a narrow circle of intermediaries (agents) on the non-market and not corresponding to business customs conditions" — it is said in the statement of the Central Bank. The regulator notes that as of August 1, 2018 the portfolio of the guarantees given by bank has made 9,5 billion rubles, having exceeded the size of own means of credit institution more than by 5 times. Also have added to the Central Bank that the bank "incorrectly reflected in account the expenses on total amount about 400 million rubles connected with payment of intermediary services in involvement of principals that has led to distortion of financial result of his activity". "Besides, formalistic approach to assessment of activity of principals has led to essential understating of the accepted K2 Bank (autonomous area) of credit risks on the provided bank guarantees. Implementation of requirements of the Bank of Russia about elimination of the above-stated violations has revealed considerable reduction of the size of own means (capital) of bank and existence in his activity of the bases for implementation of measures for prevention of insolvency (bankruptcy) that has created real threat to the interests of his creditors" — the Central Bank reports. The regulator repeatedly applied to bank of a measure of supervising influence. According to data of the reporting, in size of assets as of August 1, 2018 the bank took the 349th place in a banking system of Russia. The credit institution, notes the Central Bank, "wasn't socially important and had no significant effect on cumulative indicators of the banking sector of the Karachay-Cherkess Republic".

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