Northwest 1 Alyans Bank

In February, 2017 the Bank of Russia revoked a license for banking operations from St. Petersburg "Northwest 1 Alyans Bank".

The Northwest 1 Alliance bank was called Agrokredbank until recently. According to the Central Bank, the bank placed money in low-quality assets and inadequately estimated the accepted credit risks. As a result of execution of the requirement of supervisory authority about creation of necessary reserves of possible losses the size of own means of credit institution decreased to level below the registered authorized capital.

In the official statement of the regulator it is also noted that the bank did not observe in the term established by the law the requirement of the instruction of the Bank of Russia about reduction in compliance of value of authorized capital and size of own means. The management and owners of credit institution did not take effective and sufficient measures for normalization of its activity.

In bank the temporary administration is appointed, powers of executive bodies are suspended. The bank is a participant of deposit insurance system. According to the reporting, on the value of assets he for February 1, 2017 took the 547th place in a banking system of the Russian Federation.