Project Financing Bank

In December, 2013 the Bank of Russia revoked licenses for banking operations from three banks at once. It is about Investbank, the Project Financing Bank (PFB) and the Smolensk bank. All these credit institutions lost licenses for banking operations since December 13, 2013. It is said in the statement of the Central Bank that the decision on revocation of license of Investbank, is connected with non-execution by bank of laws, regulations of the Bank of Russia and also with essential unauthenticity of reporting data. According to the regulator, in the last two working days the bank experienced visible difficulties performed by in full obligations to clients and investors.