This decision was made due to the fact that the credit institution completely lost its own capital, underestimated the amount of reserves required for the formation of reserves for possible losses on loan and equivalent debts and overestimated the value of assets in accounting and reporting, violated federal laws regulating banking activities and was involved in dubious foreign exchange transactions.
In terms of assets, according to the Central Bank, Sputnik ranked 295th in the Russian banking system.
Earlier, the Central Bank of Russia revoked ORBANK's banking license.