Federal bank of innovations and development

The Bank of Russia since November 7, 2018 revoked the license for implementation of banking activity from two banks: Bank of Innovations and Development and bank Agrounion. Reported about it in the press service of the Central Bank. 

" joint-stock company Bank of Innovations and  Development  throughout a progressive tense was  in sight of the Bank of Russia  in connection with  carrying out doubtful transit transactions. Despite  the work with  bank which is carried out by supervisory authority, volume of the specified transactions in  the II-III  quarters of the current year continued to increase. At the same time a considerable part in  structure of the specified transactions was made by the transit transactions of the increased risk  which are generally connected with  the payments of clients directed to  sale of a cash liquidity by the trading companies." — says the regulator.

Also the Bank of Russia repeatedly (6  times  within the last 12  months) applied  to  joint-stock company Bank of Innovations and  Development of a measure of supervising influence,  including introduced restrictions for  attraction of funds of individuals twice.