Starting May 20, 2015 the Central Bank of Russia has cancelled a banking license held by Moscow-based Bank Transportny (Registration No. 3174), the regulator's press service reported.
The Bank of Russia decided to apply the measure of last resort "as the lending institution failed to execute federal laws regulating banking activities and CBR's statutory acts, the bank's capital adequacy ratios dropped below 2% and equity (capital) fell below its minimum charter capital as established as of its state registration, and taking into account the application of the measures provided for in the Federal Law".
Furthermore, the Bank of Russia said in a press release that Bank Transportny conducted a high-risk policy by investing funds in poor quality assets. Upon formation of provisions adequate to the accepted risks the lending institution fully lost its equity. "Throughout 2014 the lending institution got involved in large-scale suspicious transactions," the regulator reported.
A temporary administration team was appointed for the bank, while the powers and authority of the bank's executive bodies were suspended.
Bank Transportny is a member of the national deposit insurance system.
For the record, on April 16, 2015 Bank Transportny ceased to open new deposit accounts and to accept additional contributions to already open deposit accounts. The bank received the Bank of Russia's relevant order to do so over the next six months. In several days, on April 21, the bank was cut off the Bank of Russia's Banking Electronic Speedy Payments system, which can be a sign that the bank lacks liquidity. And it was posted on the bank's website on May 7 that it is looking for an investor that will be able to increase its capital.
According to the data from the information & analytical service of Banki.ru, in January — March 2015 Bank Transportny took the lead in opening retail deposit accounts, boosting deposit accounts by Rub 19.6 bln (up 91.46%).
It should be noted that Banki.ru users complained that the bank stopped accepting additional payments, but there were no reports that Bank Transportny does not fulfill its obligations.
