“The Bank of Russia will inform you of the decision to revoke the license from December 13, 2019 ... from the credit institution Nevsky People's Bank Public Joint-Stock Company PJSC Nevsky Bank,” the statement said.

Earlier, Central Bank Chairman Elvira Nabiullina said that the process of improving the Russian banking system is in its final stage.

According to her, the Central Bank has become less likely to revoke licenses: in 2019, the Central Bank revoked licenses from banks, whose total assets account for about 0.1% of the total assets of the country's banks.