Rosbusinessbank

The joint-stock Russian Commercial Bank "Rosbusinessbank" (Public joint stock company) was created in 1991 for service of small and medium business. The bank is registered in the Central Bank of the Russian Federation on March 11, 1991, has Basic license No. 1405. The bank is included in the register of participating banks of a system of compulsory deposit insurance.

PJSC ARKB Rosbusinessbank offers a number of the programs focused on the solution of strategic problems of development of the companies of small and medium business and individual entrepreneurs.

The bank locates network of the Additional offices and operational cash desks located in different districts of Moscow that allows to satisfy needs of all clients.

PJSC ARKB Rosbusinessbank is a member:

• Banking associations of Russia (Russia Association)
• Association of Russian Banks.
• Moscow banking association.
• Moscow Interbank Currency Exchange.
• Systems of international settlements of SWIFT.
• Affiliated member of MasterCard International Incorporated.

History

2020: Revocation of license on banking operations

On October 23, 2020 the Central Bank of the Russian Federation announced revocation of license of the Moscow Rosbusinessbank which on the value of assets took the 338th place in a banking system of Russia.

As explained the regulator, Rosbusinessbank broke federal laws on banking activity, including underestimated the value of reserves, necessary to formation, by possible losses in this connection the Central Bank within the last 12 months repeatedly applied to it measures, including imposition of restrictions on attraction of money of natural persons.

Also Rosbusinessbank allowed violations of requirements of the legislation and regulations of the Bank of Russia in the field of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing.

The Central Bank of the Russian Federation revoked the license from Rosbusinessbank

Besides, as declared in the Central Bank, more than a half of the loan portfolio of Rosbusinessbank is provided by problem loans, and for the last year the credit institution repeatedly overestimated the size of own means, representing incorrect calculation of the capital to the Bank of Russia. On this background Rosbusinessbanky the opaque bargains with the affiliated company which had non-market character and directed to transformation of the loan portfolio for the purpose of concealment of actual volume of the accepted credit risks were actively concluded, noted in the Central Bank.

The bank was a participant of deposit insurance system therefore will return to the clients who had deposits for the amount no more than 1.4 million rubles means in full. The Deposit Insurance Agency (DIA) reported that it will begin insurance payments to investors no later than November 6, 2020. For operational reception of applications of investors and the fastest payments of compensation for deposits the agency intends to use agent banks which will be selected on a competitive basis no later than October 29, 2020 in time, reported in DIA.^[1]

Notes