Turkish authorities impose media ban on coverage of Istanbul explosionWorld December 11, 3:01
Erdogan says Istanbul terrorist attack causes fatalitiesWorld December 11, 2:52
Istanbul explosions leave 15 dead, 69 wounded — TV channelWorld December 11, 2:38
Three settlements in Syria join cessation of hostilities — Russia’s Defense MinistryWorld December 11, 2:34
TV: Islamic State re-enters ancient city of PalmyraWorld December 10, 21:20
Saudi minister says Russia led consultations process with OPECBusiness & Economy December 10, 20:41
UK foreign secretary says protection of civilians should be 'top priority' in SyriaWorld December 10, 20:31
Non-OPEC states join historic oil cut dealBusiness & Economy December 10, 20:23
Russian diplomat urges Western reporters to be unbiased in war news coverageRussian Politics & Diplomacy December 10, 20:08
The regulator said in a statement on Monday it had revoked banking licenses from the Moscow-based Zamoskvoretsky Bank and Digbank from Vladikavkaz, North Ossetia, for their highly risky credit policies and non-compliance with federal laws on banking operations.
As of June 1, 2014, Zamoskvoretsky Bank held the 438th place in the Russian banking system and Digbank ranked 500th.
Russian President Vladimir Putin earlier said in response to a journalists’ question that license revocations were intended to improve the country’s financial system and free it from financial institutions that could not fulfill their obligations to depositors and work efficiently and posed a risk to the entire banking system.
CBR head Elvira Nabiullina said that the effort to clean the banking sector of inefficient operators is not a temporary campaign and will continue, and that the country’s top bank does not have a blacklist of banking institutions.
“Over the past year, about 50 banks have quit the market. These were either banks of unsatisfactory financial standing or banks strongly involved in criminal money market servicing,” Nabiullina said.
The process when inefficient operators quit the market makes the banking system healthy and raises people’s confidence in the country’s financial system, she added.