The Bank of Russia has revoked as of August 8 a banking license held by Moscow-based Ascania Trust (Registration No. 286), the regulator’s press service reported.
Ascania Trust failed to fulfill federal laws which regulate banking activities, and also the Bank of Russia’s statutory acts, and the bank failed to meet monetary claims of creditors, the Bank of Russia specified, saying the bank lost liquidity. Meanwhile, the lending institution’s executives and owners took no actions required to take its activities back to normal.
Ascania Trust is a member of the national deposit insurance system.
