MOSCOW/TYUMEN, December 4 (RIA Novosti) - Russia's Central Bank has withdrawn the licenses of two banks, West Siberia's Tyumenenergobank and the Tula-based Gazinvestbank, over breaches of banking legislation, the regulator said on Thursday.
Both banks are parties to the national deposit insurance system and the withdrawal of their licenses triggers automatic insurance payouts.
Gazinvestbank was stripped of its license over its failure to comply with federal laws on banking activity and Bank of Russia regulations, inaccurate reporting, and its inability to meet creditors' claims, the Bank of Russia said.
Tyumenenergobank was stripped of its license for its inability to meet creditors' pecuniary claims within 14 days from the date of their maturity and its failure to take measures to restore its financial position, the Bank of Russia said.
Both banks have been placed under temporary administration, the Bank of Russia said.
