Russia's central bank withdrew the banking license of JSC Kemsocinbank over its noncompliance with capital requirements.

The Bank of Russia also placed the bank under provisional administration until a receiver or liquidator is found, the regulator said May 31.

The central bank said the company's equity capital adequacy ratios were below 2% and its capital level fell below the minimum requirement. An inspection also revealed the presence of low-quality loan debt on its balance sheet, the central bank said.