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Bank of Russia revokes banking license of Bashkir AF Bank

According to the Bank of Russia, the AF Bank pursued a high-risk credit-lending policy connected with the allocation of monetary resources in low-quality asset

MOSCOW, April 17. /ITAR-TASS/. The Bank of Russia has revoked the banking license of Bashkortostan-based AF Bank, a report on the website of the Central Bank of the Russian Federation announces Thursday.

“The Bank of Russia announces a decision taken to revoke, effective from April 17, 2014, the license to carry out banking operations of the AF Bank OJSC credit-lending organization, Registration Number 991, the city of Ufa,” the report says.