OREANDA-NEWS. By its Order No. OD-2536, dated 24 September 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Commercial Bank Antalbank, limited liability company, or CB Antalbank LLC (Registration No. 3115) from 24 September 2015.

The Bank of Russia took such an extreme measure - revocation of the banking licence - because of the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, and application of supervisory measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia), taking into account a real threat to the interests of creditors and depositors.

Given the unsatisfactory quality of assets, CB Antalbank LLC made inadequate assessment of the loan portfolio and the risks assumed. Proper credit risk assessment resulted in the current year in repeated occurrence of reasons for implementing insolvency (bankruptcy) prevention measures. Besides, the credit institution failed to meet the requirements of the supervisor's instructions aimed at restricting its activities.

By its Order No. OD-2537, dated 24 September 2015, the Bank of Russia has appointed a provisional administration to CB Antalbank LLC for the period until the appointment of a receiver pursuant to the Federal Law 'On Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In accordance with federal laws, the powers of the credit institution's executive bodies are suspended.

CB Antalbank LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No. 177-FZ 'On Insurance of Household Deposits with Russian Banks' regarding the bank's obligations on deposits of households determined in accordance with the legislation.

According to the financial statements, as of 1 September 2015, CB Antalbank LLC ranked 198th by assets in the Russian banking system.