The Central Bank of Russia revoked the banking licence of Moscow-based Joint-Stock Company Commercial Bank Industrial Savings Bank and cancelled its professional securities market participant licence. The bank, which ranked 225th by assets in the Russian banking system, lost its licence following breaches of banking laws and regulations and failures to comply with anti-money laundering and counter-terrorist financing requirements. Over the past 12 months, the Central Bank of Russia had repeatedly applied supervisory measures in response to violations. The bank’s operations were chiefly focused on lending to high-risk borrowers and it systemically understated credit risk, threatening its financial stability, while also engaging in large-scale suspicious client transactions aimed at transferring funds to the shadow economy. The regulator indicated it will inform law enforcement agencies about transactions bearing signs of misconduct. A provisional administration has been appointed to manage the credit institution until a receiver or liquidator is appointed, and the powers of the bank’s executive bodies have been suspended.
Central Bank of Russia 2025-12-12
Central Bank of Russia revokes Industrial Savings Bank’s banking licence and appoints provisional administration
The Central Bank of Russia revoked the banking licence of Joint-Stock Company Commercial Bank Industrial Savings Bank due to breaches of banking laws and anti-money laundering regulations. The bank, ranked 225th by assets, engaged in high-risk lending and suspicious transactions, undermining its financial stability. A provisional administration has been appointed, and law enforcement will be informed of potential misconduct.