Russian central bank closes two more banks for malpractice
Smaller banks will be able to operate with “basic licences” from 2018, Nabiullina says
Russia’s central bank has closed down two more small banks, it announced today (December 4).
The Bank of Russia’s statements on both banks plainly alleged wrongdoing by their owners – a common feature of the central bank’s announcements on closing smaller institutions.
Governor Elvira Nabiullina nonetheless struck a confident note when addressing the country’s Duma, or parliament, on November 22, saying the Bank of Russia will allow smaller banks to operate with a simplified, “basic licence”
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