Rus News Journal

The Central Bank of the Russian Federation has withdrawn the licence at one bank

Today the Central bank of the Russian Federation has withdrawn the licence for realisation of bank operations at Joint-Stock Company KB finanstorgbank (Moscow). As has informed department external and public relations of the Central Bank of the Russian Federation, the licence is withdrawn in connection with default by bank of the federal laws regulating bank activity, and statutory acts of Bank of Russia.
the Central Bank of the Russian Federation established facts of essential unauthenticity of the accounting data, and also delays more than for 15 days of representation of the monthly reporting. Besides, Finanstorgbank has appeared incapable to satisfy requirements of creditors under liabilities.
the bank of Russia has established the facts numerous during 2004. Infringements by Finanstorgbankom of obligatory specifications of liquidity, default of requirements of creditors under liabilities, representations of the doubtful reporting by it, defaults of requirements of instructions of Bank of Russia.
The specified facts testify to real threat to interests of creditors and investors of bank - it is marked in the message of the Central Bank of the Russian Federation.
since March 2004. For the admitted infringements to Joint-Stock Company KB finanstorgbank were repeatedly applied precautionary and influence forced measures, however a financial position of the credit organisation and it was not stabilised.
in result, in Finanstorgbanke since September, 29th and till the moment of appointment of the competitive managing director or the liquidator the acting administration on management of bank will be appointed. The head of acting administration appoints zamupravljajushchego by branch N3 Moscow GTU the Central Bank of the Russian Federation Alexey Lubenchenko.
Thus, being guided by article 19, points 3, 4 both 6 parts of the first and point 4 of a part of second article 20 of the Federal law About banks and bank activity and a part of 3 articles 74 of the Federal law About the Central bank of the Russian Federation (Bank of Russia) the Bank of Russia has made the decision (the order from September, 28th, 2004 of ODES - 685) to withdraw since September, 29th, 2004 the licence for realisation of bank operations (in roubles and foreign currency) at the Closed joint-stock company of Commercial bank finanstorgbank (registration 3358 from December, 20th, 2000).
we Will remind, the Russian banks even more often meet difficulties, caused by the increased pressure from regulating bodies and an intense competition.
so, in July licences at a number of banks have been withdrawn: at first at Kredittrasta Sodbiznesbanka and then and at other banks - Commercial bank of savings Industrial it is export - import bank investitsionno - commercial Moscow housing - building bank and KB RIKOM . The current situation in bank sector has led to that many banks had difficulties with liquidity, investors began to withdraw the money. However, it is necessary to notice that the situation managed to be stabilised. Despite it, current month the licence has been withdrawn also at Meritbanka and banks Paveletsky and Dialogue - Optim have been recognised by bankrupts.
total outflow of rouble contributions of the population in July 2004. Has made nearby 17 mlrd rbl., thus actives of bank system even have a little increased (on 0,7 %). After practical stagnation in May of this year dynamics of the credits given by the credit organisations to not financial enterprises and the organisations, in June - July of this year rates of increase of crediting have increased to 3,3 % and 2,8 %, accordingly, but for the present have not reached the rates of increase marked in March - April (over 4 % monthly).
Volume of rouble contributions of the population in July 2004. Has decreased on 17,3 mlrd rbl., or on 13 %, at increase in their savings in foreign currency. Thus for the first time since December 1999. Population fixed deposits were reduced on 7 mlrd rbl. (to 0,6 %), and contributions poste restante - on 10,3 mlrd rbl. (on 4,2 %). Despite growth in July of fixed deposits in the Savings Bank of Russia on 1,3 %, considerable decrease in their volume in other banks, 5,3 % which have made for the specified period, was predetermined by reduction of total amount of fixed deposits of the population.
as a whole for January - July 2004. Rate of a gain of rouble contributions of the population has made 20,3 % against 34 % for the similar period of previous year that in certain degree has been caused also by delay of dynamics of real had incomes of the population in comparison with January - July 2003. The volume of fixed deposits for January - July has increased on 21,7 % (in comparison with 35,3 % for the similar period 2003.) Whereas the gain of contributions poste restante for the same period has made 14,4 %.
Meanwhile experts MERT consider that the Russian bank system managed to leave summer crisis with insignificant losses. Such data contains in monitoring socially - economic development of Russia in January - August 2004., published Ministry of economic development and trade of the Russian Federation.