Russia’s Central Bank revokes license from Dagestan-based bank

The Russian Central Bank revoked the license from Dagestan-based Creditinvest bank.

The bank has the 386th largest assets on the list of Russian banks, as of November 1, the regulator's press service reported.

A temporary administrator has been appointed in the bank.

The Deposit Insurance Agency of Russia said it will start making payments to clients of Dagestan’s bank no later than November 29.