THE CENTRAL BANK OF RUSSIA REVOKED THE LICENSES OF TWO MOSCOW BANKS

The financial regulator continues to revoke the licenses of commercial banks. Permissions are revoked for various reasons. This time, the Central Bank of the Russian Federation canceled the licenses of two credit institutions at once in response to an appeal from their own shareholders.

Inbank lost the opportunity to be engaged in operational activities related to securities management. Another Moscow bank, CB Slavyansky Credit, lost its license to provide dealer services. In both cases, we are talking about the securities market, in which banks operated until recently.

Experts have previously expressed concern that many credit institutions may leave the market before the New Year.

It seems that this prediction is starting to come true. Analysts point to a decline in the profitability of Russian banks. When the net profit is almost halved, the retail lending is slowing down and the quality of loans themselves is becoming noticeably worse.

So far, the refusal of commercial banks to carry out a specific type of operational activities still does not bear serious consequences for the country's financial market. For example, CB Slavyansky Credit took only 287th place in the list of banking organizations in terms of the total assets. The Central Bank notes that the bank has enough funds to pay off the creditors’ debts voluntarily.

The license of CB Slavyansky Credit, canceled by the regulator, was valid from December 9, 2003. The canceled license of Inbank was obtained in May 2014.