On Friday the Bank of Russia cancelled banking licenses held by Makhachkala-based New Commercial Bank, Moscow-based Unicorbank and Auerbank, the regulator’s press service reported.
Based on CBR’s data, Unicorbank pursued a high-risk lending policy, investing the money in low quality assets. While forming provisions adequate to the accepted risks the lending institution faced grounds for measures to be taken to forestall its bankruptcy. When doing so, the bank failed to fulfill its obligations to creditors or deposit holders. Based on the regulator’s data, the bank was also involved in suspicious operations as to provide cash and transfer money abroad for over Rub 21 bln in 2013—2014.
The media previously reported that Unicorbank stopped opening deposit accounts. The bank’s materials showed that Igor Goryunov stepped down as the bank’s management board chairman on his own free will, while Lyudmila Pilipenko, the bank’s chief accountant, was fired and removed from the management board.
New Commercial Bank, as the regulator’s information shows, pursued a high-risk lending policy, failed to pile up provisions adequate to the accepted risks or comply with the requirements of anti-money laundering laws. Besides, the lending institution took part in cash-related suspicious operations which topped Rub 1 bln in 2013.
Auerbank failed to observe requirements of anti-money laundering legislation as well. Moreover, the regulator said in a press release, the lending institution was involved in suspicious operations on a large-scale basis (over Rub 20 bln in 2013).
New Commercial Bank is not a member of the national deposit insurance system. The money will be paid back to Unicorbank and Auerbank clients starting August 8, the State Depositary Insurance Agency (DIA) reported.
