The PR Department of the Central Bank of Russia announced the cancellation of the banking licenses held by Sibirgazbank (Tyumen region) and non-banking deposit lending institution Women’s Microfinance Network (Moscow). Liquidation committees have already been appointed.
The licenses were cancelled on the basis of Article 23 of the Federal Law “On Banks and Banking Activities” as the lending institution’s authorized body made a decision to terminate the bank’s activities through the winding-up pursuant to Article 61 of the Civil Code of Russia and submitted a relevant request to the Bank of Russia. Both lending institutions have sufficient assets to satisfy claims of their creditors, the Bank of Russia emphasized in a press release.
Sibirgazbank is a member of the national deposit insurance system. As Banki.ru data show, as of June 1, 2011 the bank’s net assets totaled Rub 980 mln (No. 712 in Russia), capital (calculated in line with CBR requirements) amounted to Rub 570 mln, the credit portfolio came to Rub 60 mln and obligations to households equaled Rub 200 mln.
As Banki.ru data show, as of June 1, 2011 net assets held by Women’s Microfinance Network totaled Rub 70 mln (No. 973 in Russia), capital (calculated in line with CBR requirements) amounted to Rub 30 mln, the credit portfolio came to Rub 50 mln and obligations to households were equal to zero.
