Novokuznetsk Municipal Bank

History

2013

The Central Bank of the Russian Federation revoked since January 9, 2014 a license for banking operations from Novokuznetsk Municipal Bank (NMB). It is said in the statement published on the website of the Bank of Russia. It is said in the statement of the Central Bank that the bank "was actively involved by owners in financing of their own business". Besides, NMB pursued high risk credit policy and did not create reserves adequate to the accepted risks on possible losses of loan debt.

At the same time because of unsatisfactory quality of assets of NMB did not provide timely obligation fulfillment before investors and creditors. According to media reports, NMB introduced restriction for cash disbursement in December, 2013 which explained with mass influx of investors.

According to the results of the third quarter 2013 NMB took the 210th place by the amount of assets in a ranking Interfax-100. NMB network contains 14 additional offices in the cities of the Kemerovo region, in particular, in Novokuznetsk, Aspen forests, Leninsk-Kuznetsky, Mezhdurechensk and others. NMB — private bank where about 99.9% of stocks belonged to Yuzhkuzbasstroy Ltd, and the rest — to minority shareholders (Kuznetskpromtorg LLC, Organika LLC, Pavlov Alexander Sergeyevich.