The Bank of Russia has cancelled effective September 13, 2016 a banking license held by Rosprombank (Registration No. 3204). The relevant press release was posted on the regulator's website.
The decision to take the last-resort measure was taken as the lending institution failed to fulfill federal banking laws and the Bank of Russia's statutory acts, has violated many times during the year requirements provided for in articles of the Federal Law "On Counteracting Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts", and also those of the Bank of Russia's statutory acts that were issued in accordance with the federal law, and the application of the measures stipulated in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" taking into account a real threat to the interests of creditors and deposit holders.
Rosprombank conducted a high-risk credit policy of investing in weak quality assets. Upon adequate assessment of the accepted risks at the request of the supervisory body and reliable reflection of the bank's asset value reasons arose for the bank to take measures to prevent its insolvency (bankruptcy). Meanwhile, Rosprombank failed to comply with laws and statutory acts of the Bank of Russia aimed at counteracting legalization (laundering) of criminal income and the financing of terrorist acts as to provide the authorized body with reliable information. The bank's relevant internal control regulations did not meet the Bank of Russia's requirements," the press release runs.
Rosprombank is a member of the national deposit insurance system.
Rosprombank was earlier cut off the Banking Electronic Speedy Payment (BESP) system, its bank cards have not been serviced since last Thursday. For technical reasons, it was not possible either to credit or take back deposits, representatives of the bank's call center said.
