The Russian central bank has revoked banking licenses from Moscow-based European Trust Bank (Eurotrust) and Link-Bank, the regulator said in a statement Tuesday.

Eurotrust stopped opening retail deposits in early November 2013, attributing this decision to the worsening economic situation in the country and pre-crisis expectations.

Eurotrust failed to meet its obligations to clients, conducted a risky policy, and failed to create sufficient reserves on bad loans, the regulator said. The bank also submitted inaccurate reports, and was involved in shady transactions exceeding 7 billion rubles in January–September 2013.

Link-Bank was also involved in shady operations, the volume of which exceeded 20 billion rubles in 2013, the regulator said. The bank failed to create sufficient reserves on bad loans, and its corporate anti-money laundering rules did not meet the central bank’s requirements.

Link-Bank had 790 million ruble assets as of January 1, while retail deposits exceeded 400 million rubles as of the end of 2013.

Eurotrust and Link-Bank are members of the deposit insurance system, which guarantees the redemption of deposits of up to 700,000 rubles to the bank’s clients with the remaining money to be added to the banks’ creditor list.

Eurotrust’s shareholders are little-known companies Vneshtsvetmet with an 18.14% stake, Equity and Novy Gorod both with 16.63%, Realtrast and Trust Fund both with 12.98%, and eight other companies. The Federal State Property Management Agency owns 9.18% in Eurotrust.

The regulator has also decided to bail out Moi Bank.Ipoteka to prevent its bankruptcy and appointed the Deposit Insurance Agency (DIA) as provisional administrator. The bank has pursued a risky policy and failed to meet its obligations on time.

The central bank has stripped around 30 banks of licenses since Elvira Nabiullina took the helm at the regulator in June 2013.