Central bank says revokes license from Russia’s 42nd largest bank

MOSCOW, Mar 3 (PRIME) -- The central bank has revoked a banking license held by Tatarstan-based Tatfondbank, Russia’s 42nd largest by assets, from March 3, the regulator said in a statement on Friday.

The bank, with assets of 221 billion rubles, is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation.

(58.4067 rubles – U.S. $1)

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