CB decided to withdraw a license from another Russian bank. They became the Krasnodar Bank of the Southern Multi-Industrial Corporation (YUMK Bank), the regulator’s website said. The credit institution was in 222 locations in the banking system of Russia by assets.
The report says that Yumk Bank has repeatedly violated the requirements of legislation to counter the laundering of income obtained by criminal, and the financing of terrorism. He also “was focused on servicing the interests of owners and related companies.” In addition, more than 70 percent of loan debt on the balance sheet of the credit organization turned out to be low-quality.
The regulator notes that the bank conducted opaque operations in order to derive money abroad and concealing real financial flows. The temporary administration of the Central Bank was already appointed there.
In March, the Central Bank recalled the license at the Moscow Forbank and the Commercial Bank “Modern Business Standards” for violations of federal laws and regulator’s regulatory acts. In December, licenses also lost “Onego” and “Fintech”.