The Central Bank of the Russian Federation has cancelled banking licenses from Uray Commercial Bank (Uraycombank), Kaury Commercial Bank and non-banking lending institution Imperial-Center, the PR department of the central bank reported.
The central bank said in a statement that Uraycombank’s license was cancelled “due to identified instances when the bank’s financial statements contained substantially unreliable data, and also the lending institution’s failure to meet monetary claims of creditors or fulfill the duty of making mandatory payments”. The lender “failed to comply with the amounts of mandatory ratios and also submitted unreliable financials to the Bank of Russia”. “Due to the loss of liquidity Uraycombank was unable to make payments under clients accounts in a timely fashion” — the PR department emphasized.
Bank Kaury was stripped of its license, as it failed to ensure “that settlements under client accounts are made on time and did not comply with CBR ratios for mandatory indicators”, and also “provided the Bank of Russia with considerably unreliable financial reports”.
CBR added that Uraycombank and Bank Kaury are members of the national deposit insurance system and the revocation of the licenses is an insured event.
Imperial-Center’s license was cancelled, as the company “violated
Temporary administrations were appointed at all three lending institutions until a bankruptcy manager or a receiver is appointed. In accordance with the federal laws the powers and authority of their executive bodies were suspended.
