Atlas bank in Moscow under hammer

(Photo: atlasbanka.com)

The arbitration court in Moscow confirmed the Decision of the Central Bank of Russia on debarment to Moscow-based branch office of Atlas bank of Montenegrin businessmen, Dusko Knezevic, the bank announced.

Atlas bank will complain for the court decision it considers to be “too harsh “but sale of its Moscow-based branch office and transfer of entire bank property to Montenegrin-Serbian consortium was announced.

In early May, the Central bank of Russia decided to debar a bank of Montenegrin businessmen and owner of Atlas group due to doubt that Knezevic’s bank took EUR 180 m out of Russia via suspicious transactions.

Atlas bank states the opinion of the Association of Russian banks comprising over 700 banks in Russia which estimates the decision of Russian, monetary authorities is “too harsh “compared to irregularities spotted during control.

It was stated that Atlas bank fixed irregularities which the Central bank discovered within the legal timeline but that a regulator anyway decided on debarment.

It was estimated that the decision is “political “and that it is a result of sanctions of EU to Russia where Montenegro joined.