russia shuts down 2 more banks
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Russia shuts down 2 more banks

Arab Today, arab today

Arab Today, arab today Russia shuts down 2 more banks

A woman walks past the head office of the Central Bank in Moscow
Moscow - AFP

Russia's central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount.

Russia's 67th lender by assets, Intercommerz had failed to adequately assess risks despite the poor quality of its assets, the central bank said.

"At the same time the bank was involved in dubious transactions," it added.

The Bank of Russia also said it had revoked the license of a smaller lender, Alta-Bank.

The country's 186th bank by assets, Alta-Bank had failed to meet its obligations to creditors, the central bank said.

The Russian authorities have been trying to clear the banking sector of hundreds of fragile banks which are often found to employ doubtful or illegal practices.

The ruble's recent fall has exacerbated this, leading to dozens of bankruptcies in the sector.

Last month, the Russian authorities declared  Vneshprombank, the country's 40th-biggest lender by assets, insolvent. The bank counted several members of the country's political elite as clients.

The central bank said it withdrew Vneshprombank's licence because of its financial difficulties and involvement in money-laundering.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia shuts down 2 more banks russia shuts down 2 more banks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

russia shuts down 2 more banks russia shuts down 2 more banks

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation

GMT 18:35 2017 Wednesday ,01 March

NRJ Radio to be Launched in Morocco

GMT 10:43 2017 Tuesday ,03 January

Jordan FM to land in Beirut today for official talks

GMT 00:27 2011 Wednesday ,23 February

Bahrain picks up the pieces after violent protests

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 16:42 2017 Tuesday ,05 September

Sayed happy for his participation in drama

GMT 02:56 2016 Monday ,19 December

Israeli settlers storm Al Aqsa mosque on Sunday

GMT 18:27 2018 Wednesday ,28 November

Putin to meet with Xi Jinping, Macron on November 30

GMT 13:37 2018 Monday ,22 October

INF’s significance for European security "Macron"
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday