REUTERS
The Central Bank of Russia has introduced an interim administration in JSC Genbank, one of the major banks operating in the occupied Crimea, according to Prime news agency referring to the regulator.
"The Bank of Russia decided to implement measures aimed at improving the financial stability of Simferopol-based JSC Genbank, considering that the bank is significant for the Republic of Crimea and the city of Sevastopol," the Bank of Russia said in a statement as reported by Prime.
Genbank had been ranked 119th in the banking system of the Russian Federation as of July 1, 2017. Its assets are estimated at RUB 33.2 billion (RUB 60 to the dollar), own funds at RUB 3 billion, while household deposits at RUB 15.3 billion.
Read alsoHague court starts to consider Naftogaz lawsuit vs Russia on seizure of assets in CrimeaGenbank was founded in 1993. Today the infrastructure of the credit institution includes over 100 banking units, located almost in all settlements of the Russian-occupied peninsula.
Earlier came the reports that the illegitimate Crimean government, being a shareholder of Genbank, decided to attract Sobinbank, a member of the Rossiya Bank group, as a system investor. According to a source familiar with the situation, the Genbank's branches, operating in the occupied Crimea, will be part of the said group.