Why are banks closing in our country? Surely this issue worries a huge number of citizens. Today, Russians keep about fifteen trillion rubles in credit institutions. Not much time has passed since the moment when the Central Bank began an active purge of financial institutions, which continues to this day. With a frightening systematic nature, the supervisor deprives financial institutions of licenses. Naturally, against the background of this, our compatriots were worried: why are banks closing? One way or another, but the deprivation of the license of any credit institution is the prerogative of the Central Bank. What was the reason for the fact that he initiated a mass check in his ranks? Why are banks closing in Russia? Consider these issues in more detail.
Causes
It should be noted that there are several reasons explaining the central bank purge.
These include unjustifiably risky lending policies, the provision of false reporting, the conduct of dubious operations, and participation in schemes to legalize proceeds of crime. This is why banks close supervisors.
In addition, we should not forget that this is facilitated by the consolidation of the banking sector, increased competition, as well as toughening legislation in relation to capital.
Expert opinion
Most financial analysts share the view that the process of “cleansing” banking structures is still far from the final stage. Credit institutions are unlikely to avoid publicity in the event of a license revocation. One way or another, but financial savings and transfers to a salary card are the only airbag for the population that helps to survive crisis phenomena in the banking sector of the economy.
In any case, the Russians have limited choices, and sooner or later they will again have to trust banks. To a greater extent this applies to commercial companies that perform financial transactions by bank transfer. However, ordinary citizens, given the fact that they are concerned about the question: “Why are banks closing in Russia?” - They are unlikely to want to keep their savings under the pillow. They can only be advised to choose the financial structure more carefully.
Just five years ago, the supervisor was more loyal to the professional activities of credit organizations. So why are banks closing all the time now?
Today's tightening of measures is aimed primarily at gaining the lost trust of citizens.
How to check the license
You can verify that the bank has not been deprived of a license on the official Internet portal of the Central Bank.
You just need to specify the name of the bank in the search box of the resource - and the system will report the information of interest. Without fail, find out whether your bank is included in the deposit insurance system. If the answer is yes, in the event of an insured event, the state will compensate you up to 1,400,000 rubles.
The number of revoked licenses is growing
The process of “cleaning” the banking sector entered the initial phase at the moment when Elvira Nabiulina took the chair of the head of the Russian Central Bank. Based on the results of the year before last, licenses from 32 financial institutions were revoked. The reason for this was the numerous violations of the regulatory framework. Institutions such as Investbank, Rublevsky Bank, AB Pushkino, Master Bank, and Project Financing Bank stopped their banking activities .
Risk zone
To avoid hype, the Central Bank leadership forbade its employees from reporting information about banking structures at risk. Despite this, “black lists” of financial structures systematically appear in the public domain. However, officials recommend not trusting such information, stressing that the banking supervisor does not intend to make any forecasts on this matter.
What to do if a license is revoked from a bank
If for one reason or another the credit institution has lost its license, then customers are guaranteed full or partial compensation of their deposits.
As already noted, we are talking about the amount of up to 1,400,000 rubles. If the bank is included in the list of institutions where a deposit insurance system is provided , then ABC employees will inform the client within two weeks after the publication of the license revocation information where they will be able to receive their money. If the deposit amount is much larger than the established limit, then one part can be obtained almost immediately, and the other - in the process of legal termination of the bank. In order to pick up their “hard-earned” money as quickly as possible, experts recommend storing savings in several credit organizations at once.
The situation with Svyaznoy Bank
A few months ago, the media reported that the branches of Svyaznoy Bank would cease to work. This was also reported on the Internet resource of a financial institution. The head of the board, Yevgeny Davydovich, commented on why Svyaznoy Bank was closing branches.
He said that in a difficult economic situation today, all financial institutions are making every effort to reduce their costs. "Connected" is no exception. It was decided to reduce the number of branches, after which the money that was spent on renting office space, advertising, staff salaries would be freed. Clients of the organization will be able to use all the options through the system of "Internet banking" and "Mobile Bank".
Svyaznoy’s branches will cease to provide services as soon as the full range of measures aimed at their liquidation is implemented.
Russian banks lose confidence
Many people ask: “Why do citizens of our country close bank accounts?” This trend has recently intensified. Naturally, the main reason is that Russians fear for the safety of their own savings in domestic banking structures. According to statistics, about 60 billion dollars are in glass jars or glued with silicone glue for wallpaper. In the context of the economic crisis, according to the Russians, the risk of losing their savings increases several times.