The Central Bank revoked the license of the Bank “Razvitie”

The Bank of Russia revoked the license from October 10, the Circassian Bank “Development”. This is stated in a press release on the regulator’s website.

The Central Bank took this decision because of default by Bank of Federal laws, normative acts of the regulator, the values of capital adequacy ratios below 2% taking into account the repeated application during the year statutory measures.