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Russian Central Bank seeks liquidation of Kamchatkomagroprombank

15:25 01/03/2019

MOSCOW, March 1 (RAPSI) – The Russian Central Bank has lodged a claim seeking to compulsory close Kamchatka regional bank, Kamchatkomagroprombank, the Kamchatka region’s Commercial Court states on Friday.

The claim is to be examined on March 20.

On January 30, the Central Bank revoked the credit organization’s license permitting it to render banking services.

According to the regulator, the bank has on regular basis underreported its credit risks, whereas over 70 percent of its loan portfolio were made of value-impaired and troubled debt. At the same time, the Central Bank says, there were observed signs of bad faith actions of the bank’s management, who allegedly dissipated liquid assets to the detriment of the interests of creditors and customers.

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Russian Central Bank seeks liquidation of Kamchatkomagroprombank

15:25 01/03/2019 The Russian Central Bank has lodged a claim seeking to compulsory close Kamchatka regional bank, Kamchatkomagroprombank.
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