ADVERTISEMENT

Central Bank strips three Russian banks of licenses

Awards

The Central Bank of Russia has withdrawn licenses from three banks, the CBR press department said Friday.

It said the International Social Bank, the Commercial Bank, and the Universal Commercial Bank Era lost their licenses to conduct banking operations over failures to comply with federal banking laws and CBR regulations. In particular, the three banks violated money laundering laws and disclosure procedures, overstated their financial reserves, and were found guilty of other financial irregularities. The CBR placed the banks under external management pending a court ruling on bankruptcy or putting them into receivership. (rian.ru)

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.