Central revokes banking licenses of four lenders
MOSCOW. March 26 (Interfax) - The Central Bank of Russia has revoked the banking licenses of three banks and one settlement center effective March 26, the Central Bank said on its website.
It revoked the licenses of Moi Bank. Ipoteka [My Bank Mortgage] (Bashkortostan), Sberegatelny i Investitsionny Bank [Sberinvestbank] (Yekaterinburg) and Sovincom Bank (Moscow), which were respectively the 404th, 509th and 648th biggest Russian banks by assets as of the end of 2013 according to the Interfax-100 ranking compiled by the Center for Economic Analysis.
The Central Bank also revoked the banking license of Energobusiness Settlement Center, which was the 875th biggest lending organization.
The Central Bank had imposed outside management at My Bank. Mortgage in February in order to avert bankruptcy. However, the temporary administration found that the bank had exhausted its capital and would be unable to return to solvency.