Central Bank of Russia revokes license from New Moscow Bank

MOSCOW. Jan 23 (Interfax) - The Central Bank of Russia has revoked the banking operations license of New Moscow Bank (NMB), it said in a statement.

The regulator took this decision in response to NMB's violation of federal banking laws and CBR regulations. It has already taken measures against the bank several times in the last 12 months, for example, restricting it from performing certain banking operations.

"NMB Commercial Bank had not been conducting any actual operations on financing the economy and the outstanding loans which made up around 10% of its assets were of a very poor quality. The bank specialized in cash and settlement services and conducted large volumes of suspicious transactions for a group of clients which are suspected technical companies," the statement reads.

Despite the multiple supervisory measures taken by the CBR, the management and owners of the credit organization did not take any effective steps to lower the risks identified in its activity.

The CBR has forwarded information on the potentially illegal transactions conducted by NMB to law enforcement authorities.

The bank has been placed under the temporary management of the Deposit Insurance Agency (DIA) Group. The powers of its executive bodies have been suspended in accordance with federal laws.

NBM is a participant of the deposit insurance system.

The DIA said in a statement that it was planning to commence payments no later than February 6, 2026. According to the bank's report from December 1, 2025, the preliminary estimate of the DIA's insurance liability is 132.5 million rubles.

New Moscow Bank was Russia's 225th biggest bank in terms of assets at the end of Q3 2025, according to the Interfax-100 ranking. According to CBR data, the bank was Russia's 258th in terms of assets at January 1, 2026.