Sovereign Bank is bankrupt.

The Moscow arbitration court under the statement of the Central Bank of Russia declared bankrupt Moscow «Sovereign Bank«.

The decision was made by judge Eugene Pakhomov as a result of consideration of the case № A40-112202/2016, appointing the bankruptcy Trustee of a credit institution ASV.

CBR 8 April, withdrew the license for banking operations from «Sovereign Bank», which was due to a failure by the institution of legislation in the sphere of banking activity: implementation of the high-risk credit policy, lack of reserves, conducting dubious transactions on cash withdrawal abroad.