The Central Bank revoked the license from Krosna-Bank

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AK&M 12 August 2022 10:53

The Bank of Russia has revoked the license for banking operations from the Moscow Krosna-Bank. In terms of assets, the credit institution ranked 290th in the banking system of the Russian Federation. This is stated in the message of the regulator.

Krosna-Bank has been operationally unprofitable since 2019. The Central Bank has repeatedly sent instructions to the credit institution with requirements for an adequate assessment of the risks taken. At the same time, the bank performed operations that provided artificial maintenance of the amount of capital for formal compliance with prudential norms of activity. In addition, Krosna-Bank conducted suspicious transactions aimed at withdrawing funds abroad, the report emphasizes.

A temporary administration has been appointed to the bank, whose functions are assigned to the Deposit Insurance Agency. The powers of the executive bodies of the credit institution have been suspended in accordance with federal laws. The credit institution is a member of the deposit insurance system.