In December, 2016 the Bank of Russia revoked the licenses from four Moscow banks — "Vega bank", "Russian of financial alliance", "International bank of development" and Prayvet of bank. As stated in the message of the regulator, all financial institutions repeatedly violated the law.
"International bank of development" pursued risky credit policy — bankers placed the money in low-quality assets then the organization appeared under the threat of bankruptcy. Because of unsatisfactory quality of assets the bank was incapable to fulfill obligations to creditors timely.
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