On revocation of banking licence from credit institution Vladprombank and appointment of provisional administration
By its Order No. OD-1140, dated 28 April 2017, the Bank of Russia revoked the banking licence of the Vladimir-based credit institution Limited Liability Company Vladimirskiy Promyshlenny Bank or Vladprombank LLC (Registration No. 870) from 28 April 2017. According to the financial statements, as of 1 April 2017, Vladprombank LLC ranked 287th by assets in the Russian banking system.
Over a long period of time, the Bank of Russia has been keeping an eye on Vladprombank LLC because of the bank’s involvement in various schemes of suspicious operations of its customers, including operations conducted across the accounts of companies engaged in business with precious metals.
The high involvement of Vladprombank LLC in various suspicious operations despite the supervisor’s repeated measures aimed at preventing the bank from providing services to certain segments of the shadow market, has demonstrated the unwillingness on the part of the bank’s management and owners to normalise its activities. Under the circumstances, the Bank of Russia took a decision to withdraw Vladprombank LLC off the banking services market.
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, repeated violations within a year of requirements stipulated by Articles 7 (excluding Clause 3 of Article 7) and 7.2 of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’ as well as Bank of Russia regulations issued in accordance with the said law, and the repeated application within a year of the measures stipulated by 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 depositors.
By its Order No. OD-1141, dated 28 April 2017, the Bank of Russia has appointed a provisional administration to Vladprombank LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On 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.
Vladprombank LLC is a member of the deposit insurance system. The revocation of the banking licence is an insured event as stipulated by Federal Law No.
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28.04.2017 00.00.00