The PR department of the Bank of Russia reported it cancelled a banking license held by Neopolis-Bank (Moscow).
The regulator said in a statement that the lender’s license was revoked as the bank failed to comply with the federal laws regulating banking activities and also CBR’s statutory acts, because the bank’s capital adequacy ratio fell below 2% and its equity capital declined below the minimal threshold set by CBR on the date of the lending institution’s state registration.
“Checks conducted at Neopolis-Bank revealed shortage of cash, which led to the obligation to strip the lending institution of its license due to the full loss of own funds (equity capital), and also the breach of liquidity ratios. In addition, it was established that the lender breached many times within one year the requirements of the Federal Law “On Counteracting the Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts”, as the bank failed to provide on a timely basis the Russian Financial Monitoring Service with data about operations subject to mandatory control," the PR department emphasized.
The temporary administration is to be appointed at the bank until a bankruptcy manager or a liquidator is appointed. In accordance with the federal laws the powers and authority of the lending institution’s executive bodies were suspended.
Neopolis-Bank is a member of the national deposit insurance system.
