Stroycredit bank

History

2014: Revocation of license

In the middle of March, 2014 Stroycredit entering into the second hundred Russian banks by the amount of assets began to experience difficulties with cash disbursement of money from deposit accounts and set a limit of issue of deposits in the amount of 100 thousand rubles a day.

The Central Bank of the Russian Federation since March 18, 2014 revoked a license for banking operations from the Moscow commercial bank "Stroycredit", says the regulator.

JSC CB Stroycredit pursued high risk credit policy and reserves adequate to the accepted risks on possible losses on loan debt and other assets were not created. The credit institution performed considerable investments in mutual investment fund which accounting was carried out at significantly inflated price", says the Central Bank^[1].

At the same time Stroycredit did not fulfill the requirement of instructions of supervisory authority about recognition and the reporting of the real financial position in this connection the reporting data of bank provided to the Central Bank were significantly false, notes the regulator.

The Stroycredit bank was a participant of deposit insurance system. On the value of assets for March 1, 2014 Stroycredit took the 180th place in a banking system of the Russian Federation.

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