Go to ...

The Newspapers

Gathering and spreading news from various Russian Newspapers

The Newspapers on Google+The Newspapers on LinkedInRSS Feed

Monday, January 15, 2018

Bank BFG-Credit of top 100 deprived of the licence of the Central Bank


The Central Bank revoked the license of the Bank included in top-100 Russian banks – BFG-credit, said in a release the Central Bank.


photo: Natalia Muslinkina

The reason was “poor asset quality” in which the Bank failed to adequately assess risks. As a result, there was a complete loss of capital, so that the Central Bank and made his decision.

Recall that the problems of the Bank, occupies the 99th place in the ranking of the top 100, it was known back in April: back then, the Central Bank introduced in BFG-credit interim administration, furthermore, was applied a three-month moratorium on satisfaction of creditors ‘ claims.

The restructuring of the Bank in the end, however, “was not possible”.

Recall that the Bank was the participant of system of insurance contribution, thus, its investors-individuals will soon be able to receive their funds if they did not exceed 1.4 million rubles.

Read what Aleksashenko accused the Central Bank in impotence.

Note that the Bank’s customers were not only individuals but also large organizations, including media: VGTRK RIA “Novosti”, “channel”, etc.

Related posts:
"Holes in the budget will be covered by pieces of the Motherland"
The former head of the Central Bank: banknote 200 rubles is the price of inflation
Nobel laureate in Economics predicted Russia Japanese disease
The richest people in Russia continue to grow despite the crisis

Recommended

More Stories From Economy