The Bank of Russia took a decision to revoke starting February 19, 2009 banking licenses held by Bank EEFC-Ural, Inkasbank and Sudcombank, the PR department of CBR reported.
Ekaterinburg-based Bank EEFC-Ural was stripped of its license due to the failure to meet monetary claims of its creditors, while the license of Inkasbank (Saint Petersburg) was cancelled as the lender failed to comply with the laws regulating banking activities and CBR statutory acts, identified instances when unreliable data were presented, its capital adequacy ratio dropped below 2%, its equity capital decreased below the minimal threshold set by CBR as of the date of its state registration, and also its failure to meet monetary claims of creditors. Sudcombank, headquartered in Moscow, was stripped of its license as it failed to comply with the laws regulating banking activities, identified instances when unreliable data were presented, its capital adequacy ratio dropped below 2% and also its failure to meet monetary claims of creditors.
Temporary administrations are to start work at said lending institutions in accordance with a CBR order until bankruptcy managers or receivers are appointed. In line with the federal laws the powers and authority of the banks’ executive bodies were suspended.
Sudcombank, Bank EEFC-Ural and Inkasbank are members of the national deposit insurance system. The cancellation of a banking license is an insured accident envisaged by the Federal Law “On Insuring Deposits Held by Households with Banks in the Russian Federation”.
