The Central Bank of the Russian Federation is to revoke a banking license from Astrakhanprombank due to numerous violations within the year of the Federal Law “On Counteracting Legalization (Laundering) of Income Derived Using Criminal Means, and Financing of Terrorists”, the central bank’s PR department reported.
Astrakhanprombank failed to meet deadlines for submitting to the Federal Agency for Financing Monitoring information that is subject to mandatory supervision. From December 2008 through January 2009 the Moscow branch of the bank launched activities to convert huge amounts of money into cash. In the aggregate, during this period the lender’s branch provided clients with ready cash topping Rub 6 bln and around $230 mln” — the central bank pointed out.
Starting January 27 CBR is to appoint a temporary administration to run the lending institution’s operations “until the court of arbitration issues a ruling to declare the lending institution bankrupt and initiate bankruptcy proceedings or until an arbitral award on the appointment of a receiver takes effect”, the central bank said in a statement.
CBR also emphasized that Astrakhanprombank is a member of the national deposit insurance system and the revocation of a banking license is an insured accident.
According to the data from Banki.ru and news agency Interfax-CEA, as of July 1, 2008 net assets of Astrakhan Industrial Bank stood at Rub 548.82 mln (803rd place in Russia).
