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Bank of Russia revoked license from Pacific Vneshtorgbank in Yuzhno-Sakhalinsk
The Central Bank of Russia revoked the banking license of the Tikhookeansky Vneshtorgbank OJSC in Yuzhno-Sakhalinsk. "Throughout 2014, a credit institution was involved in dubious operations to dispense cash to clients - legal entities from their accounts and withdraw funds abroad in large volumes," the Bank of Russia press service reports.
The credit organization demonstrated non-compliance with federal laws regulating banking activities, as well as regulatory acts of the Bank of Russia, in terms of reducing the amount of own funds below the minimum value of the authorized capital.