The Bank of Russia on Thursday, August 18, revoked the license of the credit institution BaikalBank, reported on the website of the regulator.
The decision is accepted in connection with default by Bank of Federal laws and normative acts of the Central Bank. The value of the capital adequacy ratio fell below two percent, the value of own funds was below the minimum value of the share capital.
BaikalBank placed money in assets of poor quality. After the execution of requirements of Supervisory authority about the proper assessment of credit risks, the Bank lost its money.
The management and owners of the Bank did not take measures to normalise its activities. In addition, in August the conditions imposed by the Supervisory authority in respect of BaikalBank restrictions the management and owners of Bank implemented a scheme of operations and transactions aimed at asset Stripping.
In BaikalBank appointed a temporary administration until the appointment of a bankruptcy Trustee or liquidator. The powers of its Executive bodies are suspended.
BaikalBank — the participant of system of insurance of contributions. Revocation of license for banking operations is insured, reminiscent of the Central Bank.
A week ago, the Bank of Russia issued BaikalBank injunction imposing restrictions on the key operations. Source RIA Novosti earlier reported that the Central Bank since April 27 off the Bank from system of Bank electronic urgent payments (BESP), but almost immediately the Buryat, the Bank was re-connected to the system. On 5 August the Bank was again disconnected from BESP.
BaikalBank is the only Buryat regional Bank. According to the credit reporting organization that keeps people in it 6.2 billion rubles. By total assets BaikalBank on August 1, took the 230-th place in the Russian banking system.
