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In the next two years, at least 15-20 banks may leave the market

MOSCOW, January 14 – PRIME. In the next two years, at least 15-20 banks will leave the Russian market in connection with joining larger players or voluntarily surrendering a license, Sergey Tishchenko, Director General of the Expert RA rating agency, shared his expectations in an interview with RIA Novosti. The expert advised where to invest for novice investors “According to our estimates, at least 15-20 banks will leave the market in the next two years in connection with joining larger players or voluntarily surrendering a license,” the expert predicts. Tishchenko recalled that over the past few years, banks have been increasingly active in M&A deals, and more and more banks are being consolidated in the same group in order to reduce costs. In addition, there is an increase in the regulatory burden. Therefore, the owners of small banks are trying to get out of the banking business by selling it or voluntarily surrendering a license. We expect this trend to intensify in the next few years, “he concluded. The Bank of Russia began to actively rid the sector of unscrupulous players since the arrival of Elvira Nabiullina as head of the regulator in 2013. For six and a half years, almost half of the country’s banks have lost their licenses – more than 420. However, in recent years, the pace of license revocation has slowed down significantly. So, if in 2019 28 licenses were revoked and another 11 were canceled, then in 2020 banks lost 15 licenses and surrendered another 21 themselves. According to the results of a January survey of RIA Novosti experts, in total, up to 40 credit organizations. Read the full text of the interview on the website of the Prime Economic Information Agency (part of the Russia Today media group) at 10.00 Moscow time. Read also: The expert does not expect a serious decrease in deposit rates in Russia

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