The Central Bank of Russia has revoked effective April 14, 2016 a banking license held by Stella-Bank (Registration No. 2948, Rostov-on-Don), the regulator's press service reported.
The Bank of Russia explained its decision to take the last-resort measure by the lending institution's failure to observe federal banking laws and CBR's statutory acts, the multiple violation by the bank during the year of the requirements of the Bank of Russia's statutory acts that were issued in accordance with the Federal Law "On Counteracting Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts", and by the application of the measures provided for in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" given a real threat to the interests of its creditors and deposit holders.
"The lending institution focused on drawing household funds in an aggressive manner. After a supervisory body imposed restrictions and bans in relation to deposit accounts Stella-Bank continued to attract them aggressively, including at its business units in Moscow at the rates far exceeding the market average," the Bank of Russia pointed out.
Stella-Bank is a member of the national deposit insurance system.
Previously the bank began to compile a list of customers willing to close their deposit accounts. The financial institution's employees did not specify the reason behind these actions.
To remind, since April 7, 2016 the Bank of Russia has cut Stella-Bank off the Banking Electronic Speedy Payment (BESP) system. Stella-Bank customers wrote in early April in Banki.ru's People's Rating that the lending institution stopped opening deposit accounts, including those that it launched not long ago.
