Russia revokes the work permit from a bank operating in Serbia

The Central Bank of Russia revoked the work permit from EuroAxis Bank today. The bank’s priority was to make transactions with Serbia and other countries of the region.

The bank’s web site says that the bank’s president is Ivan Maricic, his assistant Vojin Lazarevic, and its members Toplica Spasojevic, Drago SKulic and Jelica Kurjak, Serbia’s former ambassador to Moscow.

After the revocation of the permit, EuroAxis was linked to “disobeying the law regulating banks’ operations and CBR’s normative acts, as well as the inability to respond to the creditors’ requests pertaining to its financial obligations”.

“Due to the insufficient quality of the assets, which failed to generate money flow, EuroAxis failed to meet its obligations to the creditors. The management and the owners of the credit organization didn’t undertake real measures to normalize the operations”, says the CBR’s statement.

Based on its available assets, this bank was in the 456th place in accordance with the banking system of Russia on May 1.