MOSCOW, September 30. /ITAR-TASS/. The Central Bank of Russia (CBR) has revoked the licenses of three more Russian commercial banks — the Moscow-based Soyuzprombank, Makhachkala-based Esidbank and Samara-based Prioritet Bank, the supervisory authority said on Tuesday.
These financial institutions were pursuing a highly risky credit policy.
Thus, 60 banks have been stripped of their licenses in 2014. The total number of Russian banks has decreased to 871. In 2013, a total of 32 banks were stripped of their licenses. Banks are subjected to purging irrespective of their ranking. The major cleanup of Russia’s banking system from unscrupulous credit institutions was launched in summer 2013 when Elvira Nabiullina, the former minister of economic development and trade, was appointed the CBR head.