Cool CB

History

2020: Revocation of license

On October 9, 2020 the Central Bank of the Russian Federation announced revocation of license of Prokhladny bank which worked in the city of the same name in Kabardino-Balkaria and took the 348th place in a banking system.

According to the statement of the regulator, Cool underestimated reserves, necessary to formation, by possible losses in this connection the Central Bank repeatedly limited bank in attraction of financial resources of natural persons.

More than 70% of the loan portfolio of bank, according to the Central Bank, are provided by problem loans. Execution of instructions of the Central Bank revealed existence in activity of Cool of reason for bankruptcy.

The Central Bank revoked the license from Prokhladny bank

Besides, the bank performed circuit operations on concealment of level of arrears and formation of interest income, information on which will be sent by the Bank of Russia to law enforcement agencies.

In Prokhladny Bank the temporary administration of the Bank of Russia which will work until appointment of the receiver or the liquidator is appointed. Powers of executive bodies of credit institution according to federal laws are suspended.

The Prokhladny bank is a participant of deposit insurance system therefore deposit amounts will be returned to investors in the amount of 100% of balance, but no more than 1.4 million rubles in total on one investor (taking into account the accrued deposit interests), except as specified, determined by Chapter 2.1 of the Federal banks Russian Federation law "About Deposit Insurance in".

Payment of deposits is made by Deposit Insurance Agency. There said that payments to bank depositors will begin no later than October 23, 2020. Before the specified date the DIA will publish in the local press and also will post the official declaration of the place, time, a form and an order of reception of applications of payment of an insurance indemnity for deposits on the website.^[1]

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