Southern regional bank

In July, 2018 the Bank of Russia revoked the license from two financial credit institutions — Tagilbank and the Southern regional bank. As of July 1, 2018 Tagilbank took the 409th place in a banking system of Russia. YuBR, respectively, 487th place. Both banks lost the licenses since July 20.

Concerning activity of JSC Tagilbank it is said in the statement of the regulator that  "throughout a progressive tense it was unprofitable in view of a low performance of the used business model. Besides, within implementation of supervising actions the regulator sets existence on balance of credit institution of the property considered on significantly to the overstated cost".  Concerning activity of YuRB LLC  it is told that "throughout a progressive tense it was characterized by significant business recession and outflow of the customer base against the background of a negative goodwill of the management of credit institution. At the same time the bank inadequately estimated the accepted credit risks".

Payments to investors of Tagilbank from Nizhny Tagil and to investors of the Southern Regional Bank (SRB) from Rostov-on-Don will begin no later than August 3, 2018, the Deposit Insurance Agency (DIA) reported.