Bank of Russia revokes license from PRISCO CAPITAL BANK of Primorsk Shipping Corporation
The Central Bank of the Russian Federation has revoked the banking licence from the credit institution Commercial Bank PRISCO CAPITAL BANK, JSC. The Bank of Russia says the decision was taken due to the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, capital adequacy below 2%, decrease in equity capital below the minimal amount of the authoruised capital established as of the date of the state registration of the credit institution.
PRISCO CAPITAL BANK was established in 1993 and until 2001 it worked under the name the Trust Credit Bank Банк. In 2001, the credit institution joined the Primorsk Shipping Corporation as Prisco Capital Bank. According to publicly available sources, major shareholder of the bank (35.73% of shares) is Primorsk Shipping Corporation (OJSC PMP). Together with other subsidiaries involved in different activities OJSC PMP is a part of Prisco group.