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Bank of Russia revokes license of Urals bank Purpe

October 16, 2014, 8:27 UTC+3 MOSCOW
In 2014, at least 63 banking structures have been deprived of the right to provide financial services
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© ITAR-TASS/Sergei Bobylev

MOSCOW, October 16. /TASS/. Russia’s Central Bank revoked on Thursday the license of the Bank Purpe, a Urals regional loan organization located in the city of Nizhnevartovsk, due to violations in financial documentation.

In 2014, at least 63 banking structures have been deprived of the right to provide financial services, thus reducing the amount to 868. In 2013, the licences were revoked from 32 banks.

The license revocation is a last-ditch means taken by the Central Bank when other methods to influence the bank conducting risky operations are exhausted.

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