Joint stock bank city
Company
On November 16, 2015 the Central Bank of Russia revoked a license for banking operations from credit institution Nosta (NST-Bank) from the Orenburg region and two Moscow banks — Gorod and Vityaz. According to the Central Bank, the Gorod bank did not create reserves on possible losses on loans in proportion to the accepted risks. Due to the loss of liquidity the credit institution timely did not fulfill the obligation to creditors. At the same time the bank was involved in carrying out the doubtful transit transactions including connected with funds withdrawal abroad in large volumes.
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