Another bank falls into the National Bank's disgrace

The regulator has limited the license of the North European Bank until September 2015.

Now the bank cannot perform a number of banking transactions, the press-service of the National Bank informs.

It will not be able to attract monetary funds of legal entities to accounts and deposits; to open bank accounts of legal entities, to carry out cash management services of natural persons.

In addition, the bank will not be able to carry out operations on trust funds, as well as factoring.

"The decision is taken in regard to non-compliance by ЗАО N.E.B. with licensing requirements to the amount of the regulatory capital, uncertain prospects for its expansion, the failure of other licensing requirements", the National Bank's statement says.