The number of Russian banks reduced twice in Crimea

Less than half of Russian banks remain in Crimea than right after the annexation of the peninsula.

14 Russian banks had been working in Crimea as of September 1, 2016 while in December 2014 the Crimean banking system was represented by 31 Russian banks.

“Thus, the number of the Russian players reduced by more than a half compared with the peak value. As it follows from the statistics of the Central Bank, the licenses of 15 banks that had their subsidiaries in Crimea and Sevastopol were revoked,” writes the Russian newspaper Kommersant.

More than 70 Ukrainian banks worked in Crimea before the annexation. In May 2014 the National Bank of Ukraine forbade them to work on the annexed territory.

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