All information about the dubious operations of Avtogradbank will be sent to law enforcement officers.
The Central Bank of the Russian Federation has deprived the Autogradbank license from June 17, the correspondent of The Moscow Post reports with reference to The site of the regulator.
The regulator stated that the bank, in particular, participated in suspicious operations to withdraw funds into shadow circulation. Information about these operations will be sent to law enforcement agencies.
Also, the bank did not comply with the requirements of the legislation in the field of countering money laundering and financing of terrorism.
It is noted that the credit institution ranked 218th in the banking system.
For a long period of time, the activities of Autogradbank JSC were characterized by the ineffectiveness of the business model, the reduction and deterioration of the quality of assets, which, along with significant stimulating payments of the top management of the credit institution, led to regular losses and reducing the size of its own funds.
At the same time, formal compliance with capital adequacy requirements were often provided at the expense of schematic operations, the Central Bank writes.
