Nabiullina called the number of “questionable” banks

Nabiullina called the number of “questionable” banks

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The head of the Central Bank Elvira Nabiullina

Photo: Mikhail Japaridze/TASS

Since the summer of 2013, the number of banks involved in dubious operations decreased from 150 to less than ten, said the head of the Central Bank Elvira Nabiullina

Since the beginning of the Stripping of the banking sector in mid-2013, the number of banks involved in dubious transactions, was reduced to less than ten, said in an interview with the Financial Times the Chairman of the Bank of Russia Elvira Nabiullina. Three years ago, according to the Bank, such banks were about 150.

“We are pleased that people are aware of the inevitability of punishment for those who violate the law. Unscrupulous bankers get punished and go to jail, and it is very important to avoid such crimes in future”, — said the Chairman of the Central Bank.

Nabiullina headed the Bank of Russia in June 2013. From now through mid-October 2016, the regulator has revoked the licenses of more than 284 banks, of which in 2016 — more than the 74 banks, the statistics of the Central Bank.

The grounds for revocation — violations of banking legislation, participation in money laundering, concealing the accumulated problems by means of false statements. The withdrawals were often accompanied by scandals. One of the loudest revolved around Vneshprombank, who lost his license in January: the hole in its balance sheet exceeded 210 billion rubles, suffered a VIP investors, and its co-owner Larisa Markus was concluded under arrest.

In early October, Nabiullina saidthat the supervision of the Central Bank, the banking sector has shown its effectiveness and that the regulator will continue to withdraw from the market banks with the exaggerated capital and bad assets.

“The banking system is fully returned to profitability. She is now at the same level as before the crisis, which began in late 2014. And we have achieved it, not turning a blind eye to certain problems; we are tightening supervision,” she said in an interview with FT.