Russia revokes license of commercial bank over money laundering, terrorism financing

The Central Bank of Russia has revoked the license of the Moscow-based Industrial Savings Bank (JSC CB “IS Bank”) for violations related to money laundering and terrorism financing, the regulator announced in a press release cited by Caliber.Az.

By order of the Bank of Russia dated December 12, 2025 (No. OD-2812), JSC CB “IS Bank,” which ranked 225th in the Russian banking system by assets, lost its license to conduct banking operations. The decision was made under Article 20 of the Federal Law “On Banks and Banking Activities” after repeated regulatory measures over the past year failed to address the bank’s violations.

The Central Bank cited the bank’s systematic underestimation of credit risks, extensive lending to high-risk borrowers, and the execution of large volumes of suspicious transactions aimed at moving funds into the shadow economy. Management and owners reportedly failed to take effective steps to mitigate these risks, threatening the bank’s financial stability.

The Bank of Russia stated that information about operations suspected of illegal activity will be forwarded to law enforcement agencies. Additionally, the bank’s license to conduct professional activities in the securities market has also been revoked.

A temporary administration has been appointed to manage JSC CB “IS Bank” until a bankruptcy trustee or liquidator is assigned, and the powers of the bank’s executive bodies have been suspended in accordance with federal law, the regulator added.

By Vugar Khalilov