Goncharenko, Roman; Mamonov, Mikhail; Ongena, Steven; … - 2022
In 2013, the Central Bank of Russia started revoking licenses from fraudulent banks. By 2020, two-thirds of all … operating banks had been shuttered. We analyze this unique period in history with credit register data. Following “sin” bank … unconcentrated. Before bank closure, firms remain unaffected; after bank closure, “bad” firms worsen in resiliency and profitability …