Novokuznetsk Municipal Bank

History

2013: License Revocation

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

At the same time, due to the unsatisfactory quality of assets, NMB did not ensure the timely fulfillment of obligations to depositors and creditors. According to media reports, the NMB introduced a restriction on the issuance of cash back in December 2013, which was explained by a massive influx of depositors.

According to the results of the third quarter of 2013, NMB took 210th place in terms of assets in the Interfax-100 ranking. The NMB network has 14 additional offices in the cities of the Kemerovo region, in particular, in Novokuznetsk, Osinniki, Leninsk-Kuznetsk, Mezhdurechensk and others. NMB is a private bank, where about 99.9% of the shares belonged to Yuzhkuzbasstroy CJSC, and the rest to minority shareholders (Kuznetskpromtorg LLC, Organika LLC, Pavlov Alexander Sergeevich.