On revocation of banking licence and appointment of provisional administration
By its Order No. OD-327, dated 11 February 2015, the Bank of Russia revoked the banking licence from the Surgut-based credit institution Surgut Central Commercial Bank, limited liability company, or CB Surgut Central LLC (Registration No. 684, the Tyumen Region, Khanty-Mansi Autonomous Area — Yugra) from 11 February 2015.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, application of supervisory measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, and taking into account the fact that as of 1 January 2015 the bank failed to achieve the minimum amount of own funds (capital) stipulated by Part 7 of Article 112of the Federal Law ‘On Banks and Banking Activity’ and failed to submit an application to change its status to that of non-bank credit institution to the Bank of Russia.
During the last year, CB Surgut Central LLC repeatedly violated the banking legislation and Bank of Russia regulations in terms of underestimation of credit risk and creating loan loss provisions in the amount not corresponding to the assumed risks. The management and owners of the bank did not take measures to increase the bank’s own funds (capital) to the amount of 300 million rubles stipulated by the Federal Law and failed to take a decision on changing the bank’s status to that of a non-bank credit institution. Pursuant to Article 20 of the Federal Law ‘On Banks and Banking Activities’, the Bank of Russia revoked the banking licence from CB Surgut Central LLC.
By its Order No. OD-328, dated 11 February 2015, the Bank of Russia has appointed a provisional administration to CB Surgut Central LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy)’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.
CB Surgut Central LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No.
According to the financial statements, as of 1 January 2015, CB Surgut Central LLC ranked 826th by assets in the Russian banking system.
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11.02.2015 00.00.00