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25 September, Monday

Ufa   °

Bank of Russia revoked license from Tatfondbank

Economy/Business

UFA, 3 March 2017. /Bashinform News Agency, Galina Bakhshieva/.

On March 3, the Bank of Russia revoked the license from PJSC "Tatfondbank". This was reported on the website of the regulator.

This decision was taken due to non-fulfillment by the credit organization of federal laws, as well as due to the reduction of the bank’s assets below the minimum share capital.

According to the Central Bank, "Tatfondbank" "inadequately evaluated the risks taken" along with unsatisfactory quality of the assets, which led to a complete loss of equity.

The Central Bank noted that due to the poor quality of assets financial recovery procedure would not be possible. Activities of the interim administration, which functions were assigned to the "Deposit Insurance Agency" are terminated.

Information about agent banks authorized to carry out payment of insurance compensation is posted on the official website of the State Corporation "Deposit Insurance Agency".

According to reports, as of February 1, 2017 "Tatfondbank" took the 42nd place in terms of assets in the Russian banking system.

11 offices of "Tatfondbank" operated in the territory of Bashkortostan.

As Bashinform News Agency reported, compensation payment to depositors of "Tatfondbank" was begun through agent banks on December 26 last year.

The State Corporation "Deposit Insurance Agency" on the basis of competitive selection has taken a decision to involve five agent banks — Sberbank, VTB 24, Rosselkhozbank, "FC Otkritie" Bank and "Ak Bars" Bank.

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