Bank of Russia steps up withdrawal of banking licences

Bank of Russia
The Bank of Russia

The Bank of Russia withdrew the licence of another medium-sized bank on August 12, in the latest of a series of such moves against banking and insurance companies.

In the first 13 days of August eight institutions had their licences revoked, following 11 in July and 17 in both June and May. In total 105 financial concerns have had their licences revoked in the past year, half of them (53) since the beginning of June.

Yesterday the Bank of Russia said it was revoking the licence of Probusinessban

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