Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

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Banking licence of non-bank credit institution ARB-INKASS revoked and provisional administration appointed

By its Order No. OD-308, dated 15.02.2019, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Non-bank Credit Institution Limited Liability Company ARB-INKASS or NBCI LLC ARB-INKASS (Registration No. 3353-К) from 15.02.2019. According to the financial statements, as of 01.01.2019, the credit institution ranked 482nd by assets in the Russian banking system. The credit institution is not a member of the deposit insurance system.

The primary area of ARB-INKASS’s activity was providing cash collection services. On the back of decreased demand for such services on the part of the credit institution’s customers, its financial standing materially deteriorated. As of the end of January 2019, the equity of ARB-INKASS dropped below its authorised capital, which evidenced the need for action to prevent the credit institution’s insolvency (bankruptcy).

The Bank of Russia repeatedly (four times over the last 12 months) applied measures against ARB-INKASS.

The management and owners of the credit institution failed to take proper actions to bring its activities back to normal. Under these circumstances, the Bank of Russia took the decision to revoke ARB-INKASS’s banking licence.

The Bank of Russia takes this extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, due to repeated application within a year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.

By its Order No. OD-309, dated 15.02.2019, the Bank of Russia appointed a provisional administration to manage ARB-INKASS for the period until the appointment of a receiver pursuant to the Federal Law ‘On Insolvency (Bankruptcy)’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies were suspended.

15 February 2019

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