The Central Bank on Friday revoked the licenses of Sauber Bank and IRS Bank, according to the regulator’s website.
Sauber Bank ranked 227th in terms of assets in the banking system of Russia, Bank IRS – 317th place. According to the Central Bank, “Sauber Bank” in significant volumes carried out dubious transactions for the sale of foreign currency to individuals and “dubious high-risk transit operations.”
Bank IRS also violated federal laws, the Central Bank said. Problem loans constituted a significant part of the bank’s loan portfolio. “In conditions of low quality of the loan portfolio, the credit institution performed operations aimed at artificially maintaining the amount of capital,” the regulator noted.
Sauber Bank and Bank IRS were participants in the deposit insurance system. A temporary administration has been appointed in the banks.
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