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Russia pushes to rid itself of 'Potemkin' banks by 2019

Reuters  |  MOSCOW 

By Alexander Winning and Andrey OstroukhMOSCOW (Reuters) - Russia plans to extend a review of bank licenses for another two years, shutting down scores more banks after closing hundreds in the past four years, mostly for committing fraud or other crimes, a central bank deputy governor said in an interview.Vasily Pozdyshev, a deputy governor at Russia's central bank, says despite the large number of lenders closed so far, his team is still finding more propping up criminal activity and would need until 2019 to finish a crackdown.The review by the central bank over the past several years has ...

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First Published: Mon, March 06 2017. 12:14 IST