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Central Bank revokes license of Moscow-based commercial bank

The Bank of Russia made the decision to appoint an interim administration to manage the Yevroraschyot loan organization

Photo www.vesti.ru

Photo www.vesti.ru

MOSCOW, December 27 (Itar-Tass) — The Bank of Russia revoked the license of the Euroraschyot commercial bank as it assets decreased below the critical level, the regulator said in a statement on Tuesday.

"The Bank of Russia made the decision to appoint an interim administration to manage the Yevroraschyot loan organization, in line with the federal law on insolvency /bankruptcy/ of loan institutions until the resolution by an arbitration tribunal on bankruptcy and appointing a manager, or until the date when the arbitration tribunal’s ruling on appointing the liquidator comes into effect," the statement said.

Yuri Gubochkin, chief economist for work with bankrupt loan organizations, Banking Supervision Department, Bank of Russia, will lead the interim administration at Yevroraschyot.

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