RTS-BANK

The Bank of Russia since March 14, 2019 revoked a license for banking operations from Development bank of Technologies and Savings (RTS-Bank, registration number 3401, the Samara region, Togliatti).

"The business model of JSC RTS-Bank had captive character. A core activity was crediting of the companies for the purpose of financing of a number of construction projects. The arisen difficulties in implementation of the specified projects led to formation on balance of credit institution of considerable volume of troubled assets — more than 60% of the loan portfolio are created by problem and bad loan debt. The bank systematically underestimated the value of the accepted credit risk in this connection the Bank of Russia repeatedly imposed requirements about a dosozdaniye of reserves of possible losses. Proper assessment of credit risk upon the demand of supervisory authority revealed considerable (about 40%) decrease in the size of own means (capital) in bank and, as a result, emergence of the bases for implementation of measures for warning of insolvency (bankruptcy) that created real threat to the interests of his creditors and investors" — the Central Bank of the reason of the made decision explains.

Besides, it is said in the statement of the regulator, "for the purpose of concealment of a real financial position of bank and artificial maintenance of value of the capital for ensuring formal observance of obligatory standards of RTS Bank (circuit) transactions, opaque to supervisory authority were performed".

The Bank of Russia repeatedly (four times within the last 12 months) applied measures to RTS Bank, including introduced restrictions for attraction of funds of individuals.

In activity of JSC RTS-Bank signs of unfair actions of the guide to an output of quick assets with damage to the interests of creditors and investors were traced. Information on the operations performed by bank having signs of commission of penal acts will be sent by the Bank of Russia to law enforcement agencies.

In the circumstances the Bank of Russia made the decision on revocation of license on banking operations.

RTS-Bank worked at financial market since 2002. Credit institution provided a range of banking services for physical persons and legal entities. Crediting, RKO, salary projects, currency transactions, investment of funds for deposits of bank is available to corporate clients. The bank offers private clients deposits, the credits, plastic cards and other financial services. CB RTS-Bank (Ltd) (the License of the Central Bank of the Russian Federation No. 3401) is the regional bank registered in Togliatti and focused on service and crediting of the enterprises and organizations of the Samara region. Was a participant of Association of Regional banks of Russia, payment systems Visa, NCC/UC, China UnionPay. The ATM network of an Integrated settlement system is available to clients of bank.