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The number of banks that have been stripped of their licences since the start of 2014 has thus reached 46.
The banks are shut down because of “unsatisfactory financial condition or deep involvement in servicing criminal money turnover”, CBR governor Elvira Nabiullina said earlier.
Dubious operations of KIP-Bank alone that ranks 688th in the Russian banking system totaled 57 billion roubles, or $1.5 billion. According to the CBR, Severinvestbank did not comply with the money laundering legislation and did not duly identify its customers, thus arousing suspicion of financing terrorism.
According to the CBR, about 880 banks were operating in Russia as of late July 2014. A total of 414 banks lost their licences in 2000 - 2012, 32 - in 2013.