Reserve Bank for Social Development

2023: Arrest of former co-owner

On July 5, 2023, the Basmanny District Court of Moscow arrested the former owner of Reserve Bank Alexander Ivanov on charges of especially large-scale fraud (part 4 of article 159 of the Criminal Code of the Russian Federation) and large-scale embezzlement or embezzlement of entrusted funds (part 4 of article 160 of the Criminal Code of the Russian Federation). Read more here.

2017: License Revocation

The Bank of Russia decided on August 9, 2017 to revoke the license from the Chelyabinsk bank Reserve. As of July 1, Reserve ranked 401st in the Russian banking system in terms of assets.

" over the past few months, the activities of BANK RESERVE (JSC) have been associated with increased credit risks. In this regard, the supervisory authority has repeatedly sent demands to the bank for the additional formation of relevant reserves. In June-July of this year , within the framework of supervisory measures, the Bank of Russia identified operations of a credit institution aimed at replacing highly liquid assets with assets of dubious quality. Moreover , the bank's activities revealed circumstances that indicate attempts to conceal the loss of a significant part of funds. As a result of the additional formation of the necessary provisions for possible losses, there was a significant decrease in the size of the credit institution's own funds (capital)  and in its activities there were grounds for the implementation of measures to prevent insolvency (bankruptcy). "