On March 5, the Central Bank of Russia revoked the licenses of the Kemerovo Business Development Bank, the Moscow financial organization Monolit and the Caucasian bank Dagestan. This is reported in the regulator's materials .

Kemerovo Bank RB lost its license due to repeated violations of laws on combating money laundering and the financing of terrorism, the Central Bank explained . The financial organization was involved in dubious transactions amounting to 4.8 billion rubles at the end of 2013.

Bank RB ranks 790th in the Russian financial sector in terms of net assets. The organization is a participant in the deposit insurance system. Bank RB has a single office in Kemerovo.

The commercial bank for social development "Dagestan" was also deprived of its license due to violation of the law on combating money laundering and conducting dubious transactions. In this financial organization, the volume of dubious transactions in 2013 amounted to 1.6 billion rubles. KBSR "Dagestan" ranks 854th in the banking system of the Russian Federation.

the revocation of Monolit's license by The regulator explained the bank's inability to satisfy the demands of creditors. In addition, the financial institution did not fulfill its obligations to depositors on time. At the same time, the bank hid information about these violations from the Central Bank by providing false reports.

Monolit also pursued a high-risk policy, did not create sufficient reserves to cover possible losses, and was involved in dubious transactions, the volume of which the Central Bank estimated at nine billion rubles at the end of last year. A temporary administration has been appointed at the bank.

Monolit suspended operations on February 26 due to the closure of a correspondent account (opened in the branches of the Central Bank and allowing banks to carry out transactions). In early February, the bank admitted that it was experiencing financial difficulties. Monolit is part of the deposit insurance system; in terms of assets, the bank ranks 228th among Russian financial institutions.

The Central Bank revoked licenses from three banks