Gelendzhik Bank loses license

The Russian Central Bank cancelled the license of Bank of Gelendzhik (Krasnodar Territory).

According to the Central Bank, this organization has estimated taken risks inadequately and failed to comply the restrictions on the exercise of certain operations imposed by supervisory authority. The bank was also involved in dubious operations in large volumes.

The bank has the 516th largest assets on the list of Russian banks, as of July 1.