Russia: Only 150 Banks to Get Basic License

UrBC, Moscow, September 10, 2018. Only around 130 to 150 banks currently operating in Russia will be able to meet all the basic license criteria, Prime refers to the Bank of Russia’s Deputy Chair Vassily Pozdyshev as predicting.

According to Pozdyshev, thirty banks have been issued their licenses already. A number of others intend to increase their capital in order to be eligible to apply for a universal license.

According to the Bank of Russia, there are 476 banks registered in Russia as of August 1, 2018.

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