Central Bank revoked the license of My Bank. Ipoteka due to inability to restore its solvency
The Bank of Russia revoked the license on banking operations from Bashkir JSC "My Bank. Ipoteka". This was reported on the website of the regulator. The decision to use extreme measures was taken following the study of the financial situation at the credit institution conducted by the provisional administration represented by the State Corporation "Deposit Insurance Agency" (DIA).
"Analysis of financial condition of "My Bank. Ipoteka" (JSC) conducted by provisional administration has revealed the loss of the bank 's own funds and inability to restore its solvency", the Central Bank informs.
DIA ceased to fulfill the provisional administration functions. The powers of the executive bodies of the credit institution are suspended. The order of the Bank of Russia dated March 26, the provisional administration is appointed at "My Bank. Ipoteka" — it will work until the appointment of a receiver or liquidator.