Provincial Bank Simbirsk
Company
Financial services, investments and audit
Russia
Volga Federal District of the Russian Federation
Ulyanovsk
Russia
Volga Federal District of the Russian Federation
Ulyanovsk
The Bank of Russia since November 11, 2014 revoked licenses for banking operations from the provincial bank "Simbirsk" (Ulyanovsk), "European Express Commercial bank" registered in Moscow and credit institution "Payment service bank" from Ufa. It is said in the statement of the regulator.
The decision on revocation of license is made because PSB and Simbirsk banks pursued the high risk credit policy connected with placement of money in low-quality assets and did not create adequate to the accepted risks of reserves.
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