Central Bank revoked license from Moscow-based bank under US sanctions
On Monday, October 2, the Bank of Russia revoked a license for banking operations from Moscow's Tempbank. In 2014, chairman of Tempbank board Mikhail Gagloev entered the US sanctions list.
Moscow Tempbank has lost the license to conduct banking operations, the Bank of Russia said in a statement. On April 5, 2017, the Central Bank introduced an interim administration in this bank. In July, the regulator extended a moratorium on discharge of claims of the Tempbank creditors for three months. By the value of assets, this bank occupied 174th place in the banking system of the Russian Federation as of September 1.
"The business model of MAB Tempbank PJSC was focused on servicing the interests of its owners. Loans to borrowers, directly or indirectly related to the ultimate beneficiaries of the credit institution and not carrying out real activities, led to the formation of a significant volume of non-earning asset on the balance sheet of the bank," the regulator said in a statement. The management of the bank did not adequately assess the risks, the Central Bank said.
The Central Bank also terminated the authority of the provisional administration that was introduced earlier, the functions of which were performed by the State Corporation Deposit Insurance Agency, and appointed a new provisional administration from October 2, which will operate until the appointment of the bankruptcy commissioner or liquidator.
The bank is a participant of the deposit insurance system.
In 2014, chairman of Tempbank board Mikhail Gagloev entered the US sanctions list. From the justification of the US Treasury, it followed that the credit organization helped the Bashar Assad’s regime in Syria transferring "millions of dollars."
In August 2017 Vedomosti reported that the owner of software, which allows to work with the SWIFT system, refused to cooperate with two Russian banks that were subject to sanctions, among them Tempbank was named.
In December 2016, Tempbank fell under US restrictions once again - this time they were connected with the top management of the organization. Three deputy chairmen of the bank, Nikolay Akhlomov, Elena Apanasenko, Irina Kozhenkova, chairman of the supervisory board of the bank Andrey Dubnjak, as well as members of the bank's supervisory board Vladimir Gagloev, Dmitry Mityaev, Leonid Reshetnikov, Arkady Vainshtein and Elena Zhirova were included in the sanctions list.
The ICR has reported on solving the murder of Ilya Pichko, who had been due to testify in the high-profile case of smuggling at the hearing on December 18. The search for the head of Yugo-Vostochnaya Torgovaya Kompaniya began after he failed to appear at the hearing scheduled for December 11.