The Bank of Russia revoked the license of the Pyatigorsk Gris-Bank in connection with default of Federal laws and normative acts of the regulator, said in a statement the Central Bank.
The credit institution placed clients ‘ funds in low-quality assets and has not created adequate accepted risks provisions.
In addition, the Bank has repeatedly violated within one year the requirements of the law on counteraction to laundering of criminal proceeds.
In Gries, the Bank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution in accordance with the Federal laws are suspended.
By total assets Gris-Bank on August 1, 2016 615 took place in the Russian banking system.
Previously on August 18, the license was stripped of Ulan-Ude BaikalBank.
