He violated the rules for determining credit risk and pursued an aggressive policy to attract deposits

The Central Bank revoked the license of Stella-Bank from Rostov-on-Don. This is reported on the official website of the regulator.

The company has repeatedly violated the current federal legislation regulating banking activities, regulations of the Central Bank itself, as well as additional restrictions introduced by it.

Stella Bank pursued a high-risk lending policy and did not create adequate reserves for possible loan losses. Also, contrary to the ban established by the regulator, the organization was aggressively attracting funds from the population, including in its Moscow branches, offering rates significantly higher than the market level. In addition, the bank did not comply with anti-money laundering and anti-terrorist financing rules. In particular, he did not send reliable information to the authorized body on transactions subject to mandatory control. All this created a threat to the interests of creditors and depositors.

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