The Central Bank of the Russian Federation revoked the license of Proinvestbank

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The Central Bank of the Russian Federation revoked the license of Proinvestbank
The Central Bank of the Russian Federation revoked the license of Proinvestbank
23 April, 09:33Economy
The Bank of Russia revoked the license to carry out banking operations from the Professional Investment Bank due to the underestimation of the necessary reserves for the formation of reserves for possible losses on loan and equivalent debt.

In addition, the regulator indicated that the credit institution violated federal laws regulating banking activities and regulations of the Central Bank. Over the past year, the Central Bank of the Russian Federation has repeatedly applied measures to Pronvestbank, including restrictions on attracting depositors' funds.

"A significant share of the assets of the credit institution was made up of loan debt, as well as property not used in the main activity. Against the background of the deterioration in the quality of the loan portfolio, Proinvestbank performed operations aimed at artificially maintaining the amount of capital in order to ensure formal compliance with prudential standards of activity", - the regulator clarified.

The Bank of Russia emphasized that Proinvestbank was repeatedly sent instructions with the requirements for an adequate assessment of the risks assumed and the reflection of the real financial position in the statements.

Now a temporary administration of the Central Bank has been appointed in the credit institution. Soon it will be replaced by a bankruptcy trustee or liquidator.

Recall that Proinvestbank is registered in Perm, it is a member of the deposit insurance system.

It's worth reminding that on April 16, the Central Bank revoked the license from the Moscow Interprombank.

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