Grinkombank

For 24 years of work Grinkombank increased the stable customer base, proved the financial stability, achieved reputation of stable, reliable and independent bank. The bank combines product approach with individual terms of service of clients. In 2013 the bank went out of the region, having opened branch in Moscow. Grinkombank Ltd — universal Regional Commercial Bank of the Irkutsk region.

2019: Revocation of license

On September 12, 2019 the Central Bank revoked a license for banking operations from the Irkutsk Grinkombank.

"The Bank of Russia informs on the made decision on a response since September 12, 2019 licenses for banking operations at credit institution "Grinkombank joint-stock company Irkutsk", the statement says.

The credit institution took the 410th place in a banking system of the Russian Federation (according to data on the website of the Central Bank, for September 1, 2019 in the list of the operating credit institutions 415 banks - a comment of TASS appeared) and participates in deposit insurance system.

"Reduction of value of own means (capital) is up to one level below than the size of authorized capital owing to what in its [bank] of activity there was a basis for implementation of measures for warning of insolvency (bankruptcy)" and also repeated violations of the laws regulating banking activity and regulations of the Central Bank became the reason of recall of the license, explain in the regulator.

"The essential share (more than 55%) in assets of Grinkombank was made by non-core property, including the low liquid real estate which are not used in primary activity. Besides, on balance of bank extremely low-quality loan portfolio was considered - more than 90% of loan debt of legal entities and physical persons are recognized hopeless", says the Central Bank.

In bank the temporary administration is appointed. Deposits will be paid back to clients, payments are made by Deposit Insurance Agency (DIA).