OREANDA-NEWS. By its Order No. OD-833, dated 17 April 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Idealbank, limited liability company, or Idealbank OOO (Registration No. 3491) from 17 April 2015.

The Bank of Russia took such an extreme measure - revocation of the banking licence - because of failure by the credit institution to comply with federal banking laws and Bank of Russia regulations, decrease in the bank capital below the minimum amount of the authorised capital established as of the date of the state registration of the credit institution, and taking into account the application of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.

Idealbank OOO implemented a high-risk lending policy connected with placing funds in low-quality assets. As a result of complying with the supervisor's requirements on creating provisions adequate to the risks assumed, Idealbank OOO lost considerable part of its capital.

The management and owners of the bank did not take effective measures to normalise its activities. Under these circumstances, the Bank of Russia performed its duty on the revocation of the banking licence from the credit institution in accordance with Article 20 of the Federal Law 'On Banks and Banking Activities'.

By its Order No. OD-834, dated 17 April 2015, the Bank of Russia has appointed a provisional administration to Idealbank OOO for the period until the appointment of a receiver pursuant to the Federal Law 'On the Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In accordance with federal laws, the powers of the credit institution's executive bodies are suspended.

According to the financial statements, as of 1 April 2015, Idealbank OOO ranked 792th by assets in the Russian banking system.