Russian cbank revokes license from St Petersburg’s Bank Sovetsky

MOSCOW, Jul 3 (PRIME) -- Russia’s central bank has revoked a banking license from St. Petersburg-based Bank Sovetsky, ranked 111th by assets as of June 1, the regulator said on Tuesday.

The central bank also approved a plan with participation of the Deposit Insurance Agency (DIA) envisaging an auction to sell the bank to a credit organization which will continue rendering bank services to Bank Sovetsky’s clients on previous terms and settle its obligations.

Bank Sovetsky is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation.

(63.1394 rubles – U.S. $1)

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