The Bank of Russia has revoked as of January 29, 2016 a banking license held by Mezhregionalny Trustovy Bank (Interregional Trust Bank, Registration No. 2493, based in Moscow), the regulator's press service reported.
The Bank of Russia decided to apply the last resort measure because the lending institution failed to fulfill federal laws regulating banking activities, and also the Bank of Russia's statutory acts, its capital adequacy ratios fell below 2%, of its inability to meet monetary claims of creditors and taking into account the application of the measures provided for in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".
"Mezhtrustbank conducted a high-risk lending policy and piled up no loan loss provisions adequate to the accepted risks. Meanwhile, the bank's capital adequacy dropped to the critical level. Due to the loss of liquidity the lending institution failed to timely fulfill its obligations to creditors. Furthermore, the bank got involved in large-scale suspicious transit operations, the Bank of Russia emphasized.
As the regulator's data show, the bank's executives and owners took no efficient measures to bring its activities back to normal.
Mezhtrustbank is a member of the national deposit insurance system.
At the same time, the lending institution itself told Banki.ru on January 28 about a prepared self-rehabilitation plan that suggests, apart from other measures, the search of an investor.
The media wired earlier, on January 20, that due to the lack of liquidity Mezhtrustbank executives and owners "are looking for funds" as part of the compiled self-rehabilitation plan. The plan, in particular, suggests cutting costs related to additional offices and payroll.
The bank's representative interviewed by the banking portal specified that the bank had already closed all operating cash desks and some divisions, and as of early February Mezhtrustbank is going to shut down another division in Moscow.
Earlier in January the bank already limited the closing of deposit accounts. Also, Mezhtrustbank failed to fulfill the second part of repurchase transactions for a total of Rub 432.3 mln, and for this reason the Moscow Exchange gave the bank an official notice.
The bank's financial statements show that in the past three days Mezhtrustbank violated ratios of capital adequacy (N1), of core capital adequacy (N1.1), of base capital (N1.2), the ratio of the maximum amount of high credit risks (N7), and also the ratio of the aggregate level of the risk for the bank's insiders (N10.1).
Furthermore, Mezhtrustbank's capital declined nearly 4 times in 2015 to Rub 167.5 mln, falling below the statutory minimum threshold of Rub 300 mln.
