On revocation of banking licence of credit institution IDEYA Bank and appointment of provisional administration
By its Order No. OD-4616, dated 19 December 2016, the Bank of Russia revoked the banking licence from the Krasnodar-based credit institution public joint-stock company IDEYA Bank or PJSC IDEYA Bank (Registration No. 430) from 19 December 2016.
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 the requirements of Article 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’ and the related 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 real threat to the interests of creditors and depositors.
PJSC IDEYA Bank implemented high-risk lending policy and did not create loan loss provisions adequate to the risks assumed. In addition, the credit institution did not comply with the requirements of the legislation and Bank of Russia regulation on anti-money laundering and the financing of terrorism in terms of timely reliable reporting to the authorised body. The rules of internal controls on anti-money laundering and the financing of terrorism did not comply with Bank of Russia regulations. The credit institution’s activity was aimed at dubious transactions.
The management and owners of the credit institution did not take measures to normalise its activities. Under such circumstances the Bank of Russia decided to remove PJSC IDEYA Bank from the banking market.
By its Order No. OD-4617, dated 19 December 2016, the Bank of Russia has appointed a provisional administration to PJSC IDEYA Bank 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.
PJSC IDEYA Bank 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 December 2016, PJSC IDEYA Bank ranked 264th by assets in the Russian banking system.
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19.12.2016 00.00.00