Moscow court to hear Soyuzny bank’s closure case
MOSCOW, December 4 (RAPSI) – The Moscow Commercial Court will consider a motion of Russia’s Central Bank seeking the involuntary liquidation of Soyuzny bank in February, the court’s ruling reads.
On October 25, the Soyuzny bank’s license was revoked. The bank was primary involved in 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 noted.
Also, 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.