The Bank of Russia is to revoke as of October 6, 2015 a banking license held by United National Bank (based in Nizhny Novgorod, Registration No. 2074), the relevant message was posted on the Bank of Russia's website.
As the regulator's press service specified, many times during the year the lender breached requirements of the Bank of Russia's statutory acts issued in accordance with the Federal Law "On Counteracting Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts". The Bank of Russia specified that the bank failed to observe requirements of the above statutory acts, failing to provide authorized bodies with data on operations that are subject to mandatory control.
The Bank of Russia also found out that the lending institution got involved in suspicious transactions to transfer funds abroad, and also in large-scale suspicious transit operations. The bank's executives and owners took no measures to bring its activities back to normal.
A temporary administration commenced operations at the bank until a bankruptcy manager or a liquidator is appointed. The powers and authority of the lending institutions' executive bodies were suspended.
United National Bank is a member of the national deposit insurance system, and the revocation of a license is an accident insured with regard to the bank's obligations under retail deposits, the Bank of Russia noted.
