The Central Bank revoked the license to conduct banking operations from Bank BKF. The credit organization violated federal laws that regulate banking activities and regulations of the Central Bank, it says in a press release on the Central Bank website.
The Central Bank revoked the license of Bank BKF
Author: Bogdan Muzychenko
“For a long period of time, the bank’s activities were characterized by low asset quality, ineffective business model and chronic loss-making, which led to a decrease in the scale of activity and a reduction in capital,” the statement said.
Over the past 12 months, the Central Bank has twice imposed restrictions on credit organizations on attracting depositors’ funds. The Central Bank also added that Bank BKF violated legislation in the field of combating money laundering and the financing of terrorism. In addition, the credit institution was involved in conducting suspicious transactions by clients, “primarily aimed at withdrawing money abroad,” the regulator indicated.
“Bank BKF” is a participant in the deposit insurance system, so clients will receive deposits back in the amount of 100% of the balance of funds, but not more than 1.4 million rubles for each depositor, including accrued interest on deposits.
Bank received license from the Central Bank in 1994 and was studying servicing and lending to small and medium-sized businesses. In the Interfax-100 ranking as of the third quarter of 2024, “Bank BKF” occupied 217th place in terms of assets in Russia with an indicator of 5.4 million rubles.
Cover photo: Mistervlad /
Source: rb.ru
