As of July 27, 2015 the Bank of Russia has revoked a banking license held by Tula-based Tulsky Promishlennik Bank (Registration No. 2 382), the Bank of Russia reported.
CBR stresses that Tulsky Promishlennik Bank pursued a high-risk lending policy and failed to fulfill the Russian law.
The bank's executives and owners took no measures to bring its activities back to normal. In view of the lender's poor asset quality there was no possibility to rehabilitate the lender with the participation of the Deposit Insurance Agency (DIA) on reasonable economic conditions, the Bank of Russia stated.
Tulsky Promishlennik Bank is a member of the national deposit insurance system.
