The Bank of Russia has decided to revoke as of October 6, 2015 a banking license held by Moscow-based Lesbank (Registration No. 1598). Relevant information was posted on the regulator's website.
This decision was taken due to the non-fulfillment by the lender of federal banking laws and CBR's statutory acts, and the application of measures stipulated in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)". As the Bank of Russia thinks, there was a real threat to the interests of Lesbank's creditors and deposit holders.
The financial institution "conducted a high-risk lending policy and formed no loan loss provisions adequate to the accepted risks", the regulator's press service pointed out. Meanwhile, the lending institution was involved in suspicious transit operations, the regulator noted. Moreover, the bank violated demands of orders issued by a supervisory body and failed to comply with restrictions imposed on separate operations. "The bank's executives and owners took no efficient measures to bring its activities back to normal," the Bank of Russia noted.
A temporary administration was introduced at Lesbank until a receiver or a liquidator is appointed, and the powers and authority of the lending institution's executive bodies were suspended.
Lesbank is a member of the national deposit insurance system and a revoked license is an insured event.
