24.10.2015, 00:49
Bank of Russia Revoked Licence from DORIS BANK
OREANDA-NEWS. By its Order No. OD-2893, dated 23 October 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Commercial Bank Doveriye, Ravnopraviye i Sotrudnichestvo, limited liability company, or CB DORIS BANK LLC (Registration No. 1679) from 23 October 2015.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because of the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, equity (capital) adequacy ratios below 2 per cent, decrease in equity (capital) below the minimal 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)'.
With its poor asset quality CB DORIS BANK LLC failed to adequately assess the risks assumed. Due credit risk assessment as requested by the supervisory authority revealed that the bank fully lost its equity (capital).
The management and owners of the credit institution did not take measures to normalise its activities. Under these circumstances, 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-2894, dated 23 February 2015, Bank of Russia has appointed a provisional administration to CB DORIS BANK LLC 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.
CB DORIS BANK LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No. 177-FZ'On Insurance of Household Deposits with Russian Banks' regarding the bank's liabilities on deposits of households determined in accordance with the legislation. The said Federal Law stipulates the insurance premium as one hundred per cent reimbursement of the entire deposit to bank depositors, including individual entrepreneurs, but not more than 1.4 million rubles in aggregate per depositor.
According to the financial statements, as of 1 November 2015, CB DORIS BANK LLC ranked 341st by assets in the Russian banking system.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because of the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, equity (capital) adequacy ratios below 2 per cent, decrease in equity (capital) below the minimal 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)'.
With its poor asset quality CB DORIS BANK LLC failed to adequately assess the risks assumed. Due credit risk assessment as requested by the supervisory authority revealed that the bank fully lost its equity (capital).
The management and owners of the credit institution did not take measures to normalise its activities. Under these circumstances, 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-2894, dated 23 February 2015, Bank of Russia has appointed a provisional administration to CB DORIS BANK LLC 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.
CB DORIS BANK LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No. 177-FZ'On Insurance of Household Deposits with Russian Banks' regarding the bank's liabilities on deposits of households determined in accordance with the legislation. The said Federal Law stipulates the insurance premium as one hundred per cent reimbursement of the entire deposit to bank depositors, including individual entrepreneurs, but not more than 1.4 million rubles in aggregate per depositor.
According to the financial statements, as of 1 November 2015, CB DORIS BANK LLC ranked 341st by assets in the Russian banking system.
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