On revocation of banking licence and appointment of provisional administration
By its Order No. OD-3576, dated 19 December 2014, the Bank of Russia revoked the banking licence from the Nizhny Novgorod-based credit institution Professional Credit Bank, limited liability company, or PC-Bank LLC (Registration No. 2652) from 19 December 2014.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the repeated violations within a year of the requirements of Article 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’.
PC-Bank LLC did not comply with the requirements of the legislation on anti-money laundering and the financing of terrorism in terms of timely and detailed notification of the authorised body about operations subject to obligatory control. Besides, the credit institution was involved in dubious operations connected with overseas money transfer in significant amounts.
By its Order No. OD-3577, dated 19 December 2014, the Bank of Russia has appointed a provisional administration to PC-Bank LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ 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 are suspended.
PC-Bank LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No.
According to the financial statements, as of 1 December 2014, PC-Bank LLC ranked 714th by assets in the Russian banking system.
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19.12.2014 00.00.00