Arab Today, arab today rcb withdraws license from moscowbased amt bank
Last Updated : GMT 21:53:08
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RCB withdraws license from Moscow-based AMT bank

Arab Today, arab today

Arab Today, arab today RCB withdraws license from Moscow-based AMT bank

Moscow - RIA Novosti

Russia\'s central bank has withdrawn the operating license from Moscow-based mid-sized AMT Bank over inaccuracies in its financial statements, the regulator said on Thursday. \"The Bank of Russia has taken the decision to revoke the license because AMT Bank has failed to comply with federal laws on banking activity and Bank of Russia regulations and has considerably distorted its financial statements,,\" the regulator said in a statement. AMT Bank invested funds in assets without creating adequate reserves for possible losses, the central bank said.

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