The Bank of Russia decided to revoke the license held by Bank Arvesta (Armavir, registration number 2926), the PR department of the Bank of Russia told Banki.ru.
Bank Arvesta’s banking license was revoked due to the fact that as of January 1, 2010 the lending institution’s equity was below the minimal threshold (Rub 90 mln). The lender’s executives and shareholders did not take efficient measures to increase the equity capital. In addition, the bank did not apply to the Bank of Russia seeking permission to change its corporate status to a non-banking lending institution.
In accordance with the CBR order, a temporary administration commenced work at the bank until a bankruptcy receiver or a liquidator is appointed. In accordance with the federal laws the powers and authority of the lending institution’s executive bodies were suspended.
Bank Akvesta is a member of the national deposit insurance system. The revocation of a banking license is an accident insured as provided for by the Federal Law “On Insuring Household Deposits Held with Banks of the Russian Federation”.
In addition, the Central Bank of the Russian Federation cancelled a license held by Novosibkoopbank (Novosibirsk, registration number 2422) as its participants adopted a decision about the bank’s voluntary liquidation.
“Taking into account data provided by the lender, it holds sufficient funds to meet creditor claims. In accordance with Article 62 of the Russian Civil Code and Article 57 of the Federal Law “On Limited Liability Companies” a liquidation committee was appointed at the bank," CBR said.
For the record, Novosibkoopbank is a member of the national deposit insurance system.
