04.03.2016, 00:56
Bank of Russia Revoked Licence from Commercial Bank Bankirsky Dom
OREANDA-NEWS. By Order No. OD-726, dated 3 March 2016, the Bank of Russia revoked the banking licence of the Saint Petersburg-based credit institution Joint-stock Commercial Bank Bankirsky Dom, joint-stock company (JSCB Bankirsky Dom JSC) (Registration No. 2928) from 3 March 2016.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because the capital adequacy ratio of this credit institution was below 2% and its equity capital dropped down below the minimum authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution.
The Bank of Russia revealed a large cash shortage in the tills of JSCB Bankirsky Dom JSC. While making provisions for possible losses on actually absent assets, the credit institution fully lost its capital. Moreover, the bank was involved in suspicious operations. The management and owners of the credit institution failed to take effective measures to bring the situation back to normal. Given the circumstances, the Bank of Russia has performed its duty to revoke the banking licence of JSCB Bankirsky Dom JSC.
By its Order No. OD-727, dated 3 March 2016, the Bank of Russia has appointed a provisional administration to JSCB Bankirsky Dom JSC for the period until the appointment of a receiver pursuant to the Federal Law 'On Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In compliance with federal laws the powers of the credit institution's executive bodies have been suspended.
JSCB Bankirsky Dom JSC is a participant in the deposit insurance system. The revocation of the banking licence is recognised as an insured event stipulated by Federal Law No. 177-FZ 'On Insurance of Household Deposits in Russian Banks' with regard to the bank's obligations to honour household deposits identified in accordance with the procedure established by law. 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 no more than 1.4 million rubles per one depositor.
According to reporting data, as of 1 February 2016, JSCB Bankirsky Dom JSC ranked 422nd in the Russian banking system in terms of assets.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because the capital adequacy ratio of this credit institution was below 2% and its equity capital dropped down below the minimum authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution.
The Bank of Russia revealed a large cash shortage in the tills of JSCB Bankirsky Dom JSC. While making provisions for possible losses on actually absent assets, the credit institution fully lost its capital. Moreover, the bank was involved in suspicious operations. The management and owners of the credit institution failed to take effective measures to bring the situation back to normal. Given the circumstances, the Bank of Russia has performed its duty to revoke the banking licence of JSCB Bankirsky Dom JSC.
By its Order No. OD-727, dated 3 March 2016, the Bank of Russia has appointed a provisional administration to JSCB Bankirsky Dom JSC for the period until the appointment of a receiver pursuant to the Federal Law 'On Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In compliance with federal laws the powers of the credit institution's executive bodies have been suspended.
JSCB Bankirsky Dom JSC is a participant in the deposit insurance system. The revocation of the banking licence is recognised as an insured event stipulated by Federal Law No. 177-FZ 'On Insurance of Household Deposits in Russian Banks' with regard to the bank's obligations to honour household deposits identified in accordance with the procedure established by law. 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 no more than 1.4 million rubles per one depositor.
According to reporting data, as of 1 February 2016, JSCB Bankirsky Dom JSC ranked 422nd in the Russian banking system in terms of assets.
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