The Bank of Russia has revoked effective March 3, 2016 a banking license held by Bankirsky Dom (Registration No. 2928), the regulator's press service reported.

The Bank of Russia explained its decision to act so as the bank's capital adequacy ratios fell below 2%, equity dropped beneath the minimum charter capital as set on the date of the lending institution's state registration.

"The Bank of Russia identified a big shortage of cash at Bankirsky Dom. Upon formation of loan loss provisions against actually missing assets the lending institution lost its equity (capital) in full. In addition, the bank was involved in suspicious operations. The lending institution's management and owners took no efficient measures to help it normalize activity," CBR noted.

Bankirsky Dom is a member of the national deposit insurance system.

Furthermore, on February 24, 2016 Bankirsky Dom's Moscow branch was unable to serve its customers, and the bank's employees said that only deposit withdrawal operations were unavailable. "The bank simply ran out of cash today, but overall the bank is operative," the bank's employee said by phone.

On the same day the bank's representatives at the head office in St. Petersburg pointed out that to withdraw deposits it is necessary to submit applications five days in advance .

It was noted in December 2015 in the People's Rating section that the bank stopped accepting contributions to current deposit accounts. The bank's customers complained that they were unable to put funds in deposit accounts both in cash or in a non-cash manner.