OREANDA-NEWS  Since December 26, the Bank of Russia has revoked the license for banking operations and professional activities in the securities market from the commercial bank Garant-Invest, which ranked 168th in the banking system in terms of assets, the regulator reports on its website.

"By order dated 12/26/2024, the Bank of Russia ... revoked the license for banking operations from the Commercial Bank Garant-Invest (Joint Stock Company) CB Garant-Invest (JSC) (reg. No. 2576, Moscow). In terms of assets, the credit institution ranked 168th in the banking system of the Russian Federation... The Bank of Russia has also revoked the license for CB Garant-Invest (JSC) to carry out professional activities in the securities market," the statement said.

"The Bank of Russia made this decision in accordance with paragraph 6 of the first part of Article 20 of the Federal Law "On Banks and Banking Activities", guided by the fact that the credit institution CB Garant-Invest (JSC) violated federal laws regulating banking activities, as well as the regulations of the Bank of Russia, in connection with which The regulator has repeatedly applied measures to it over the past 12 months, including restrictions on attracting depositors' funds," the regulator adds.