Number of Russian banks drops to 1,129

The number of operating Russian banks and crediting organizations dropped to 1,129 in January-April 2008. 1,084 entities are banks proper, while the remaining 45 ones are non-bank crediting organizations, Central Bank of Russia reports.


The Central Bank has called off or annulled licenses of 145 crediting organizations over the four months of 2008, and 1,841 entities have gone into liquidation due to cancellation of a license (1,437), reorganization (403), or failing to back up one’s authorized capital (1).


297 organizations did have their general licenses on May 1, 2008, 900 banks had licenses allowing them to collect deposits from private individuals, and 752 and 196 companies had licenses allowing them to carry out foreign currency transactions and those involving precious metals, respectively, while 905 banks were included in obligatory deposit insurance register.


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