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Friday, October 28, 2016

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.

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