Established in 1994, while Vorkuta Bank, this small bank ended its existence in 2016. It was the time and place of creation that predetermined its end in a civilized society. Risky operations, which were the order of things in the 90s of the last century, have now ceased to be justified, both from a moral point of view and from a cost-benefit point of view. After all, those people who have come to work at the bank recently could not help but understand what the management policy is leading to.
What prevented the bank from working.
After it became clear that all lending activities were unprofitable, and all data was deliberately distorted, it was still possible to go for a merger or acquisition in order to save at least the existing assets. But, as it turned out, the activities of the bank’s management were illegal, that is, criminal, related to money laundering and their withdrawal from the country. For this reason, the bank went bankrupt, and many of the bank’s employees lost their jobs, and clients lost their money. Of course, the bank was small. But small banks also have clients.
The consequences of ignorance.
Often the problem of clients of such banks as the City is not excessive trust, since they themselves roughly understand how the money is circulating in the bank, and even know about the impending collapse long before the end of the bankruptcy procedure. It’s just that criminal and semi-criminal money goes to the accounts, and only the bank, doomed to participate in criminal schemes, since its very management has built its business this way. Therefore, there are practically no claims and problems with the return of loans.
However, many clients of the bank, not having full information about what is happening with finances in this kind of bank, ended up with a lot of problems. The general picture of the bank’s activities is not visible, the information is closed to customers, so often the choice of a bank for a deposit, deposit or urgent, is a lottery. After all, it may turn out that a respectable bank took and burst in just a few days, or even hours. The more open the bank is, the more reliable it is.