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Central Bank revokes license from one of top-100 banks in Russia

September 19, 2016, 13:03 UTC+3 MOSCOW

FPB Bank is a member of the deposit insurance system

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© Vyacheslav Prokofiev/TASS

MOSCOW, September 19. /TASS/. The Russian Central Bank revoked license for banking transactions from FPB Bank, the regulator said on Monday.

According to the Central Bank, in the context of poor quality of assets FPB Bank did not generate enough cash flow, credit organization regularly postponed payments to creditors and depositors.

In accordance with the Central Bank’s order, a temporary administration was set for FPB Bank until there is a bankruptcy supervisor or a receiver. The authority of the bank’s executive bodies has been suspended.

FPB Bank is a member of the deposit insurance system. According to the bank’s financial reports, as of September 1, 2016, the bank occupied 94th place in the Russian banking system.

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