Kalmyk commercial bank Credit Bank

The decision on revocation of license on Credit Bank is made because the credit institution did not observe the requirement of the legislation in the field of counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism regarding identification and the timely direction in authorized body of data on the transactions which are subject to mandatory control.

It is said in the statement of the Central Bank that "The Credit Bank inadequately estimated the assumed risks. At the same time the credit institution was involved in implementation of the doubtful transactions connected with funds withdrawal abroad in large volumes. The management and owners of bank did not take necessary measures for normalization of its activity".

The order of the Central Bank of the Russian Federation in bank appoints on October 16, 2014 temporary administration. The Credit Bank is a participant of deposit insurance system. Revocation of license is an insured event concerning obligations of bank for deposits of the population. On the value of assets for October 1 the bank took the 681st place in bank to the system of the Russian Federation.