CBR revokes licenses of Expert Bank, Danske Bank
MOSCOW. Nov 1 (Interfax) - The Central Bank of Russia has revoked the banking licenses of Expert Bank (Omsk) and Danske Bank (St. Petersburg), the CBR said in a statement.
The CBR decided to revoke Expert Bank's license as of November 1 on the grounds that the bank repeatedly violated legislation and CBR regulations related to money laundering and financing of terrorism and provided incomplete and incorrect information.
According to the CBR, Expert Bank also committed violations that forced the regulator to apply punitive measures repeatedly over the last 12 months, including restrictions on borrowing from individuals.
"What is more, a number of circumstances indicated the credit organization's intentional involvement in carrying out suspicious operations and the lack of an intention among its management to take effective measures to stop such activity. Information about the suspicious operations carried out by the bank has been sent to law-enforcement bodies by the Bank of Russia," the CBR said.
According to the Deposit Insurance Agency, Expert Bank is a member of the deposit-insurance system.
The bank was founded in 1994. According to the CBR, Moscow businessman Roman Stroikov owned 92.79% of it as of April 1, 2019.
In Q3 2019, it was Russia's 206th largest bank by assets, according to the Interfax-100 ranking prepared by the Interfax Center Economic Analysis. According to the CBR, it was the 209th biggest as of October 1.
Danske Bank's license was revoked in connection with the bank's voluntary liquidation.
According to reports submitted to the CBR, the bank has sufficient property to satisfy creditors' demands. A liquidation commission will be appointed within the bank.
Danske Bank participates in the deposit insurance system, but according to the Interfax-100 ranking, its balance did not include any funds of individuals as of September 30.
According to the CBR, Danske Bank was Russia's 240th biggest bank by assets as of October 1. In the Interfax-100 ranking, it was the 222nd biggest bank, with 6.147 billion rubles.
Its only shareholder is Danske Bank, one of Denmark's biggest commercial banks.