Putin greets KamAZ-Master team - winner of Silk Way RallySport July 22, 15:20
Agreements on East Ghouta zone in Syria signed - Defense MinistryWorld July 22, 14:20
PAK FA offers practically unlimited opportunities to pilot - commanderMilitary & Defense July 22, 11:29
Ukraine's National Broadcasting Board issues fine to Public Radio for 0% Urkainian songsWorld July 22, 5:39
Femen movement activists faces 5 years in jail for trying to frustrate summit meetingWorld July 22, 4:38
Russian Deputy PM dismisses allegations he will arrived in Moldova on warplaneRussian Politics & Diplomacy July 22, 2:46
Russian top diplomat shares his impressions from meeting with US leaderRussian Politics & Diplomacy July 21, 20:31
Lavrov bewildered US special services give no facts of Russia’s meddling in US electionRussian Politics & Diplomacy July 21, 19:46
Putin says USSR collapse had greatest impact on himSociety & Culture July 21, 18:37
The licenses were revoked from the Moscow-based Spetssetstroibank and Pervy Depozitny Bank (Pervy Depozitny) and Severnaya Kliringovaya Palata non-banking credit institution located in Arkhangelsk in north Russia over their highly risky credit policies and failure to comply with banking legislation and Bank of Russia regulations.
Spetssetstroibank and Pervy Depozitny also failed to comply with the anti-money laundering legislation, the regulator said.
The Russian Central Bank has taken active efforts lately to restructure the domestic financial system and make it stable and resilient to market shocks. The regulator has paid special attention to financial institutions that are not large in size and conduct risky operations and violate capital adequacy and transparency requirements.
The Russian regulator has revoked a total of 57 banking licenses since the start of this year, reducing the number of banking institutions in Russia to 874.
In 2013, the regulator stripped 32 banks of their banking licenses.The Russian regulator has also applied financial rehabilitation measures to banks across the entire spectrum of the domestic banking rating system, including banks from the list of the top 100 domestic banking institutions by assets like Master Bank and Investbank, the top 200 banks like Smolensky Bank and Pushkino Bank and the top 300 credit institutions like Novokuznetsk Municipal Bank and European Trust Bank.
The large-scale effort to clean the banking sector of inefficient operators started with the appointment of Elvira Nabiullina as the Central Bank chief in June 2013.
The Central Bank head has said a decision on license revocation is an “extreme measure” when all the other methods of “influence on a particular bank have been used up.”
Russian President Vladimir Putin said in May 2014 that banks’ financial recovery was required to create a “viable and effective” financial system.