The Central Bank revoked the license of the “Steel Bank”
. The Central Bank of the Russian Federation from July 10, withdrew the license for banking operations of “Steel Bank” (registered in Moscow), said the press service of the regulator.
As reported by the Bank of Russia, the problems of the “Steel Bank arose in connection with the use of extremely risky business model and, as a consequence, the low quality of a significant part of the assets.The Central Bank revoked the license of the Bank “Prime credit”
“The Bank failed to adequately assess the credit portfolio. Proper assessment of credit risk revealed a significant reduction in own funds (capital) “Steel Bank” and led to the emergence of the grounds for implementation of measures on prevention of insolvency (bankruptcy), which has created real threat to interests of its creditors and depositors. The lack of owners of the Bank’s intentions to implement real measures to stabilize its financial situation demonstrates the futility of further activity of the credit organization”, – stated in the message.
The Bank is the participant of system of insurance of contributions. Payments to depositors will begin no later than two weeks from the date of revocation of the license (July 24).
According to BIR Analyst, Bank on 1 June this year 522 took place in the Russian banking system’s assets in the amount of 679,9 million rubles, own funds amounted to 227.3 million rubles, the deposits of the population and 91.6 million.