Moscow Commercial Court winds up Soyuzny bank
MOSCOW, January 11 (RAPSI) – The Moscow Commercial Court has judicially liquidated Soyuzny bank upon a motion filed by Russia’s Central Bank, RAPSI has learnt in the court.
The Deposit Insurance Agency (DIA) has been appointed as a receiver of the failed bank.
On October 25, the bank’s license was revoked. Soyuzny bank was primary involved in the provision of credits and guarantees to legal entities, yet it routinely underestimated credit risks and because of that was several times subjected to special measures, including restriction of funding, the Central Bank stated earlier.
Moreover, numerous violations of Russian legislation on counteracting money laundering and other crimes were found as Soyuzny bank failed to provide complete and accurate information on certain activities.