OREANDA-NEWS. July 25, 2011. The rating decrease is due to the realisation of political risks affecting the Bank's owner and the suspension of its license by the Central Bank of Russia.

On 21 July 2011 the CBR's Department of External and Public Relations announced that the banking license of LLC  AMT Bank (Moscow) had been suspended on the previous day by order OD-534. The reasons for the suspension were the Bank's failure to uphold federal regulations governing banking activity and violations of regulatory norms, including the identification of serious inaccuracies in official accounts, as well as the repeated application in the course of one year of measures specified in the federal law “On the Central Bank of the Russian Federation”.

As previously reported a CBR representative has been working at AMT Bank since the latter first accessed uncovered loans and the Bank's operations have been audited several times.

The Bank will continue to function as a legal entity under a temporary management team until such time as a bankruptcy administration or liquidator is put in place. It is in a position to meet its obligations to both clients and outside creditors.

The rating is based on the covered nature of current CBR loans, healthy loan backing in the form of property collateral and the current capital base.

The retention of a rating (at the lower “C” level) means that RusRating will continue to monitor the Bank’s activity and its efforts to meet obligations up until the point when it is fully liquidated.