Licenses have lost the international Bank of St. Petersburg, occupied 116-e a place in the financial system of the country in terms of deposits. This is the second hour of the regulator’s decision banning the implementation of banking activities
Photo: Roman Pimenov / inter / TASS
The Central Bank revoked the license of the International Bank of St. Petersburg, said in a statement on the regulator’s website. A credit institution is the 116 th place in the Russian banking system and is a member of the Deposit insurance program.
The Bank’s problems had started because of the use of risky, in the opinion of the Central Bank, the business model, which on its balance sheet a significant amount of problem assets. Supervisory authorities demanded from the leadership of the organization to create adequate to the accepted risks of reserves, and fulfillment of this requirement revealed the complete loss of the Bank’s own funds.
During the year, the regulator has twice imposed on the International Bank of Saint-Petersburg measures of Supervisory influence, in particular applied restrictions on the use of the public money. The Bank has not taken any effective action to normalize its activities, entered the Bank.