The Central Bank revoked the license to carry out banking operations for Banco BKF. The credit institution violated federal laws regulating banking activities and the regulations of the Central Bank, according to a press release on the Central Bank website.
Author:
https://rb.ru/author/bmuzichenko/
Subscribe to RB.RU on Telegram
“Over a long period, the bank’s activities were characterized by low asset quality, an ineffective business model and chronic losses, which led to a decline in the scale of activity and a reduction in capital,” the statement said. .
Over the past 12 months, the Central Bank has twice imposed restrictions on credit organizations to attract funds from depositors. The Central Bank further added that BKF Bank violated legislation on combating money laundering and terrorist financing. In addition, the credit institution was involved in carrying out suspicious transactions by clients, “mainly intended to withdraw money from abroad,” the regulator indicated.
“BKF Bank” participates in the deposit insurance system, so clients will receive deposits in the amount of 100% of the fund balance, but not more than 1.4 million rubles for each depositor, including accrued interest on deposits.
The bank received a license from the Central Bank in 1994 and was engaged in providing services and loans to small and medium-sized businesses. In the Interfax-100 ranking for the third quarter of 2024, BKF Bank ranked 217th in terms of assets in Russia with an indicator of 5.4 million rubles.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
