Foreign ministers of Russia, Japan will discuss Putin’s upcoming visit to TokyoRussian Politics & Diplomacy December 03, 3:37
President of Luxembourg Forum welcomes Russia’s attention to threat of nuclear terrorismWorld December 03, 3:11
Presidential polls to determine vector for Uzbekistan’s further development — CEC chairmanWorld December 03, 2:44
Lavrov, Kerry discuss settlement in Syria at conference in RomeWorld December 03, 1:36
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Reconciliation agreements signed with 6 Syrian settlements — Russian Defense MinistryWorld December 02, 23:50
Russia doesn't understand why Kiev still continues operation in Donbass — LavrovRussian Politics & Diplomacy December 02, 22:59
Russian field engineers take off for Syria to take part in Aleppo demining operationMilitary & Defense December 02, 21:24
Bank Kutuzovsky pursued a highly risky crediting policy and did not create reserves for possible losses proportionate to risks it took. Due to loss of paying capacity the lending organization did not fulfill liabilities to creditors timely.
Meanwhile, Creditimpex Bank did not create reserves to possible losses on loans adequate to risks it took and violated the procedure and deadlines of accounting reports produced in the CBR. The lending organization was involved in suspicious transactions that exceeded 13.5 billion rubles ($395.9 million) in 2013.
Chief executives and owners of the banks did not take effective measures to rectify their activity and restore their financial situation.
According to the size of its assets commercial bank Kutuzovsky was ranked at the 804th place in Russian banking system and Creditimpex Bank has occupied the 774th place in this system as of May 1.
The CBR has revoked licenses for dubious financial transactions from about 50 banks and lending organizations since 2013.
The main regions for operation of banks stripped of their licenses are Moscow and Moscow Region, North Caucasus region and Siberia. As many as 1,059 banks and crediting organizations have operated in Russia at the beginning of this year.