The Bank of Russia has revoked a banking license held by Bank Admiralteisky (Registration No. 3054), the regulator's press service reported.

The Bank of Russia decided to revoke the bank's license as the bank failed to comply with federal banking laws and CBR's statutory acts, numerous violations during the year of the Bank of Russia statutory acts that were issued in accordance with the Federal Law "On Counteracting Legalization (Laundering) of Crime Income and Financing of Terrorist Acts", and also taking into account the numerous application of procedures stipulated in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)," and taking into account a real threat to the interest of the bank's creditors and deposit holders.

Bank Admiralteisky conducted a high—risk credit policy and failed to pile up loan loss provisions adequate to the accepted risks. In addition, the bank failed to observe requirements of the Bank of Russia's statutory acts in the area of measures to counteract legalization (laundering) of criminal income and the financing of terrorist acts as to provide an authorized body with reliable data on operations that are subject to mandatory control, the Bank of Russia's press service emphasized.

As the regulator specified, the lending institution got involved in large-scale suspicious transactions.

"As a matter of fact, the bank stopped to serve its clients in September 2015. The lending institution's executives and owners distanced themselves from the bank's management and took no efficient measures to normalize its activity," the Bank of Russia said.

As previously reported, around 100 clients of the bank gathered on Thursday morning near Bank Admiralteisky's head office in the Lopukhinsky Pereulok in Moscow. The bank's disgruntled clients blocked the roadway from time to time, and also tried to storm the building. For this reason the police had to respond to the actions of the public.

Representatives of the bank's corporate clients complained that since Monday all payments have been put on hold, and the money cannot be debited from accounts.

Also, it became known that on Thursday the police seized documents at the bank's office.

Meanwhile, Bank Admiralteisky itself pledged that the bank would resume operation on Friday, but only if its executives appear. "If executives turn up, the bank will commence operation tomorrow," an advisor to the bank's management board chairman said on Thursday.

Furthermore, this lending institution was cut off the Banking Electronic Speedy Payment (BESP) System.