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Central Bank Revoked Licenses Of Three Banks
27.11.2014 23:43
Central Bank Revoked Licenses Of Three Banks

The Central Bank of Russia revoked licenses of three banks.

      The Moscow BVA Bank and Bank T, as well and Derbent PrestizhKreditBank stopped operating from November 26.

      Credit institutions have lost their licenses due to non-fulfillment of federal laws and regulations of the Central Bank. This was reported on the official web site of the regulator. According to the Central Bank, BVA Bank enforced high-risk lending policy associated with the placement of funds into low-quality assets. T Bank, according to the regulator, enforced high-risk lending policy and did not create provisions for possible loan losses which would be comparable to risks. PrestizhKreditBank, as the regulator reports, has completely lost its own funds (capital) because of its high-risk lending policy.


Author: Anna Dorozhkina

Tags: Russian banks     

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