Commercial Bank "Financial Standard": problems, customer reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In the banking market, there are many banks that are in a specific struggle for customers. Before choosing a particular bank, you should conduct a thorough analysis of its activities. Studying the information on the credit organization will help to avoid possible problems in the future.

General information about Financial Standard Bank

Bank "Financial Standard" belongs to the category of medium-sized banking structures. The financial interests of this organization are concentrated in the Moscow region. The banking organization has more than 20 offices located in the Moscow region and in Moscow. The credit firm was founded in 1990 and was known at that time as "Jidaagrobank". This financial and credit institution was the first to enter the deposit insurance system.

The bank's sales network includes branches located in Sevastopol, Kaliningrad and Novosibirsk. Also, the credit institution has one representative office in the Crimea. The bank has an extensive own network of ATMs.

Activities of a credit organization

The Bank is focused on providing lending and account transfer services for medium and small businesses, trade, as well as companies whose activities are related to mediation, marketing, transport and other services to the population.

Financial Standard Bank until recently served thousands of private clients and enterprises of various forms of ownership. The banking structure offered consumer loans, currency exchange, deposits, plastic cards and tax-free refunds for its customers.

The credit institution is owned by a group of individuals, and the chairman of the board is Yuriy Lysenko. Among the main participants of the bank, there are five companies registered in Cyprus. The main beneficiaries are Sergey Galchenko, Vadim Pristupa, Kirill Zagainov, Andrey Ispolatov, Viktor Belyanin, Lilia Al-Nsur and Kirill Poldnev.

Main causes of bank failure

The problems of the Financial Standard Bank began in April 2016. The Central Bank of Russia revoked the banking license of a credit institution on June 8, 2016. According to the press service of the Bank of Russia, such a financial institution invested money in low-quality assets.

At the same time, the bank's management did not create reserves that would correspond to the accepted risks. Poor asset quality could not generate permanent and sufficient cash flow. Therefore, the credit institutiontimely ensured the fulfillment of its own obligations to depositors and creditors.

The assessment of credit risk showed that the bank has completely lost its own capital. The problems of Financial Standard Bank are negative financial indicators, as well as low values of equity capital adequacy ratios.

This has become the main prerequisite that has led to the inability to fully and timely meet the needs of depositors. As a result, clients had problems with withdrawing deposits from Financial Standard Bank. The central bank says it has repeatedly applied appropriate measures within one year, which did not lead to a positive result.

Also, Financial Standard Bank began to experience problems when transit operations of a dubious nature were detected. The information was confirmed by the Central Bank. The top management of the credit institution did not take the necessary measures to stabilize the activity of the credit institution. Therefore, Financial Standard Bank began to experience quite serious problems.

Compensation to depositors

The Central Bank sent a request to this credit institution for the immediate submission of a petition to stop working with customer deposits. Since the credit institution is a member of the deposit insurance system, compensation payments were made to each depositor in the amount of the deposit amount, as well as accrued interest. However, the total value of the cashcompensation could not exceed 1.4 million rubles.

All bank account and bank deposit agreements that were concluded before the application of such measures are not subject to immediate termination. The only exceptions are situations in which the depositor is the initiator of receiving the deposit ahead of schedule.

What are the people afraid of?

The Supervisory Committee of the Central Bank announced the decision to ban the opening of cash accounts and attracting funds as deposits. Financial resources that were received on deposit accounts at the time of the moratorium were returned to customers on their active accounts.

For a short period of time, the bank operated in a limited mode, which allowed avoiding liquidity outflow. However, there was a serious concern and excitement among customers in connection with the restriction on the issuance of cash. Since April 2016, the Bank of Russia has banned the opening of new accounts and accepting deposits from customers, so the bank's activities have ceased.

Reviews

Reviews are different about Financial Standard Bank, since many customers cannot receive funds. Also, clients note a violation of the terms of deposit agreements and non-payment of interest. In many respects, such situations are associated with low liquidity indicators of the banking structure. That is why the bank cannot make payments to its customers and repay obligations to them in a timely manner. Negative reviews about the bank "Financial Standard", whose problems began in April 2016year, have a prevailing majority.

Clients say that the credit institution does not allow the transfer of funds from transit accounts to foreign currency. As a result, currency exchange between accounts is not performed, and funds freeze. Financial Standard Bank denied problems with payments for a long time in order to reduce panic.

However, the negative financial condition of this credit structure has led to the fact that customers leave negative feedback about the bank. Some clients noted a positive attitude towards this banking structure and the operational work of specialists. Another part of the clients expresses a neutral attitude towards the organization.

Many reviews agree that employees who conduct financial transactions often mislead their customers with unverified information. As a result, the number of customers is reduced, and the bank loses part of its profits. Problems with withdrawing deposits at Financial Standard Bank are the most common, as most depositors complain about this.