The Central Bank revoked the license from Krosna-Bank
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On August 12, the Bank of Russia revoked the license from the Moscow Krosna-Bank. In terms of assets, this financial institution ranked 290th among Russian banks.
As stated in message regulator, the license from Krosna-Bank was revoked in accordance with two provisions. Firstly, according to the Central Bank, the financial institution regularly violated banking laws and Central Bank regulations throughout the year. Secondly, the bank “permitted violations of the requirements of the legislation in the field of combating the legalization (laundering) of proceeds from crime and the financing of terrorism.”
The Central Bank said that Krosna-Bank is a member of the deposit insurance system, so deposits will be returned to depositors in the amount of 100% of the balance of funds, but not more than 1.4 million rubles. According to the Deposit Insurance Agency, payments to depositors will begin no later than August 26.
The statement says that Krosna-Bank has been steadily “operationally unprofitable” since 2019, in connection with which the Central Bank sent “orders with requirements for an adequate assessment of the risks taken” to the bank.
In addition, as reported by the Central Bank, the bank made transactions that “provide artificial support for the amount of capital for formal compliance with prudential norms of activity.” According to the regulator, Krosna-Bank carried out suspicious transactions aimed at withdrawing funds abroad.
According to information on site Central Bank, Krosna-Bank received registration in 1993. Its authorized capital was estimated at 155 million rubles. The main source of funding is the deposits of individuals.
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