Russia's central bank said on Thursday it has withdrawn the operating licences of bank Integro and Kurganprombank, citing the first bank's lack of capital and the latter's inability to meet creditors' demands.
The central bank has withdrawn over 10 banking licences since the end of August as mistrust and liquidity crisis hit the banking sector. Before the crisis, Russian banks lost licences mainly due to accusations of money laundering.
Authorities have repeatedly said they would welcome a consolidation in Russia's banking sector, consisting of over 1,000 banks.
Depositors of Integro and Kurganprombank will have to apply to the Deposit Insurance Agency to get their money back.
Authorities last month raised the amount of money guaranteed by the state to 700,000 roubles ($25,610), around 40 times higher than the average monthly wage. The state previously guaranteed 400,000 roubles. (Reporting by Dmitry Sergeyev; Editing by Chris Wickham)
Source: The Guardian
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