World Economy

3 Banks Lose Licenses

3 Banks  Lose Licenses3 Banks  Lose Licenses

The Central Bank of Russia (CBR) has revoked the licenses of three more Russian commercial banks — the Moscow-based Soyuzprombank, Makhachkala-based Esidbank and Samara-based Prioritet Bank, Itar-Tas quoted the supervisory authority as saying Tuesday. These financial institutions were pursuing a highly risky credit policy. Thus, 60 banks have been stripped of their licenses in 2014.