trending Market Intelligence /marketintelligence/en/news-insights/trending/olopyt8x1qwnbkevdmmxya2 content esgSubNav
In This List

Russian regulator withdraws Bank Master-Capital's license


Commercial Banking: June 22nd Edition


Commercial Banking Newsletter June Edition - 2022


Street Talk | Episode 96: Considering recession risks, prospects that the Fed achieves a 'soft landing'

Case Study

Actions to Reduce Emissions at an Asian Financial Services Firm

Russian regulator withdraws Bank Master-Capital's license

The Russian central bank revoked the banking license of Joint Stock Commercial Bank Master-Capital and placed the lender into provisional administration until the appointment of a receiver or a liquidator.

The regulator said the bank's activities were focused on lending to borrowers affiliated with the ultimate beneficiaries of the bank, which resulted in the accumulation of a significant amount of nonperforming assets on its balance sheet. A due diligence check of the lender, carried out at the regulator's request, uncovered a substantial loss of capital, which threatened the interests of creditors and deposit holders.

Bank Master-Capital is a member of the Russian deposit insurance system, meaning that retail deposit holders are set to receive compensation of up to 1.4 million Russian rubles each for deposits held at the lender.

As of Feb. 19, US$1 was equivalent to 56.35 Russian rubles.