10.02.2016, 01:02
Bank of Russia Revoked Licence from CB INTERCOMMERTZ
OREANDA-NEWS. By its Order No. OD-400, dated 8 February 2016, the Bank of Russia revoked the banking licence of the Moscow-based credit institution Commercial Bank INTERCOMMERTZ (Ltd.) or CB INTERCOMMERTZ (LLC) (Registration No. 1657) from 8 February 2016.
The Bank of Russia took such an extreme measure - revocation of the banking licence - due to the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, all capital adequacy ratios being below 2 percent, decrease in capital below the minimal value of the authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution, and the application within a year of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
Given unsatisfactory quality of assets, CB INTERCOMMERTZ (LLC) inadequately assessed the risks assumed. Adequate assessment of the credit risk at the supervisor's request revealed a complete loss of the bank's capital. Besides, the bank was involved in dubious transit operations.
Considering a significant gap between the assets and liabilities, it was impossible to perform the procedure of financial rehabilitation of CB INTERCOMMERTZ (LLC) with participation of the state corporation Deposit Insurance Agency and its creditors on reasonable economic terms.
Under these circumstances, the Bank of Russia performed its duty on the revocation of the banking licence of the credit institution in accordance with Article 20 of the Federal Law 'On Banks and Banking Activities'.
CB INTERCOMMERTZ (LLC) is a member of the deposit insurance system. The revocation of the banking licence is an insured event as stipulated by Federal Law No. 177-FZ 'On the Insurance of Household Deposits with Russian Banks' in respect of the bank's retail deposit obligations, as defined by legislation. The said Federal Law provides for the payment of indemnities to the bank's depositors, including individual entrepreneurs, in the amount of 100% of the balance of funds but not more than 1.4 million rubles per depositor.
According to reporting data, as of 1 January 2016, CB INTERCOMMERTZ (LLC) ranked 67th in the Russian banking system in terms of assets.
The Bank of Russia took such an extreme measure - revocation of the banking licence - due to the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, all capital adequacy ratios being below 2 percent, decrease in capital below the minimal value of the authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution, and the application within a year of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
Given unsatisfactory quality of assets, CB INTERCOMMERTZ (LLC) inadequately assessed the risks assumed. Adequate assessment of the credit risk at the supervisor's request revealed a complete loss of the bank's capital. Besides, the bank was involved in dubious transit operations.
Considering a significant gap between the assets and liabilities, it was impossible to perform the procedure of financial rehabilitation of CB INTERCOMMERTZ (LLC) with participation of the state corporation Deposit Insurance Agency and its creditors on reasonable economic terms.
Under these circumstances, the Bank of Russia performed its duty on the revocation of the banking licence of the credit institution in accordance with Article 20 of the Federal Law 'On Banks and Banking Activities'.
CB INTERCOMMERTZ (LLC) is a member of the deposit insurance system. The revocation of the banking licence is an insured event as stipulated by Federal Law No. 177-FZ 'On the Insurance of Household Deposits with Russian Banks' in respect of the bank's retail deposit obligations, as defined by legislation. The said Federal Law provides for the payment of indemnities to the bank's depositors, including individual entrepreneurs, in the amount of 100% of the balance of funds but not more than 1.4 million rubles per depositor.
According to reporting data, as of 1 January 2016, CB INTERCOMMERTZ (LLC) ranked 67th in the Russian banking system in terms of assets.
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