The Central Bank of Russia has revoked as of December 14, 2015 banking licenses held by Dil-Bank (Registration No. 3384), and Bank Renaissance (Registration No. 1939), and Commercial Development Bank (Registration No. 3364), the regulator's press service reported on Monday.

The regulator noted that the decision was taken as the lending institutions failed to fulfill federal laws regulating banking activities and also CBR's statutory acts. Meanwhile, all of Dil-Bank's and Bank REnaissance's capital adequacy ratios dropped below 2%. Commercial Development Bank violated requirements of the laws for counteraction of legalization (laundering) of criminal income and the financing of terrorist acts. Meanwhile, the lending institution was involved in suspicious transit operations.

Earlier Dil-Bank was cut off the Bank of Russia's Banking Electronic Speedy Payment (BESP) system. In early December news broke that the financial institution opens no new deposit accounts and rejects its customers to contribute to their effective accounts. Later reports turned up in the People's Rating that the bank no longer gives cash, and is also unable to process bank cards.

The Bank of Russia has disconnected Bank Renaissance from the Banking Electronic Speedy Payment (BESP) system since December 1. The media previously reported that Bank Renaissance hands out cash based on preliminary records. Commercial Development Bank was also cut off BESP.

The payment of funds to deposit holders at Dil-Bank, Bank Renaissance and Commercial Development Bank will begin no later than December 28, 2015, the PR department of the Deposit Insurance Agency (DIA) reported.