CB Evrotrast Ltd

The license is revoked from Evrotrast bank "in connection with non-execution by credit institution of the federal laws regulating banking activity and also regulations of the Bank of Russia, establishment of the facts of essential unauthenticity of reporting data and inability to meet requirements of creditors for monetary obligations".

Due to the loss of liquidity the Evrotrast bank did not provide timely obligation fulfillment before creditors and investors. The bank pursued high risk credit policy and reserves adequate to the accepted risks on possible losses on loan debt and other assets were not created - the Bank of Russia in the information letter on the official site reports.

At the same time it is noted that the credit institution submitted to the Bank of Russia significantly the false reporting suppressing the facts of non-execution of requirements of creditors and investors and also loss of the capital. At the same time the bank did not fulfill the requirement of instructions of supervisory authority, and was involved in carrying out doubtful transactions in cash and non-cash forms which total amount in 9 months 2013 exceeded 7 billion rubles. Heads and owners of CB EVROTRAST (Ltd) did not take effective measures on normalization of its activity - it is said in the statement of the Central Bank of the Russian Federation.