April 08, 2016, 08:38 / Finance

The Central Bank did not find a sanatorium for Fia Banka

The Bank of Russia tried to save the Samara bank through the DIA, but eventually revoked its license Vedomosti

In terms of assets, Fia-Bank was in 175th place in the Russian banking system as of March 1 / Fia-Bank

The Bank of Russia today announced that it had revoked the license of the Samara-based Fia Bank for loss of capital. The bank was subject to revocation of its license at the beginning of March; the Central Bank studied the possibility of its reorganization, but in the end it was not possible to find a sanator. “Due to the low quality of assets, it was not possible to carry out the financial rehabilitation procedure for JSC Fia-Bank with the involvement of the state corporation Deposit Insurance Agency on reasonable economic terms,” writes the Central Bank.

“Given the unsatisfactory quality of assets, Fia-Bank JSC did not adequately assess the risks taken in connection with this. A proper assessment of credit risk at the request of the supervisory authority revealed a complete loss of the bank’s own funds (capital),” states the Central Bank. In terms of assets, Fia Bank was in 175th place in the Russian banking system as of March 1.

The DIA inspects several banks with almost 50 billion rubles of deposits

Finance / Banking

According to the reporting, Fia Bank operated with negative capital - minus 5.5 billion rubles. on March 1st. As of February 1, the capital was positive - 2.1 billion. The bank’s latest reports only indicate that “the sum of indicators that reduce the amount of sources of basic capital” is 7.1 billion rubles. From the bank's balance sheet it is clear that it created 4.2 billion rubles. provisions for loans to companies. A decrease in the capital adequacy ratio below 2% obliges the regulator to revoke the bank’s license, but Fia-Bank retained it for some time. Fia Bank was planned to be sanitized, a person close to the supervisory unit of the Central Bank explained to Vedomosti, and this explained the delay.

As follows from the list of persons under whose control or significant influence Fia Bank is, 80% of its authorized capital belongs to Alexander Nosorev, 19.99% to the East Capital family fund. One of them was a shareholder of Probusinessbank, which lost its license in August 2015.