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The court liquidated Kamchatkomagroprombank
Kamchatkomagroprombank was excluded from the register of banks participating in the Deposit Insurance System. This decision was made after the liquidation of the financial institution.
According to the State Corporation "Deposit Insurance Agency", the bank was excluded from the register on September 14. In the Unified State Register of Legal Entities, a record on the liquidation of the company also appeared.
Kamchatkomagroprombank was founded in 1990. The Bank of Russia claims to it appeared on January 25, 2019 - from this date the banking license was revoked. According to the regulator, more than 70% of the credit institution's loan portfolio was bad debt.
As pointed out by the Central Bank, it regularly demanded that the bank replenish reserves for its own losses. But the organization continued to underestimate the amount of credit risk it assumed, which caused the company to decrease its own funds. The impending bankruptcy could negatively affect both creditors and depositors.
As of the date of revocation of the license, the bank had more than 2,325 billion rubles in assets and liabilities for 2,31 billion rubles. The forced liquidation of the bank was approved by the Arbitration Court of the Kamchatka Region in March 2019.