Russia’s EurocityBank fails to redeem 640 mln rbl under repo deal - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russia’s EurocityBank fails to redeem 640 mln rbl under repo deal

MOSCOW, Jul 4 (PRIME) -- EurocityBank, Russia’s 231st largest bank by assets as of late March, has failed to redeem 639.59 million rubles worth of liabilities under a repo deal, as seen by PRIME in data of the Moscow Exchange on Monday.

On June 24, a source told PRIME that the central bank switched EurocityBank off its Banking Electronic Speed Payment System, which usually indicates an upcoming revocation of a banking license. But the bank explained its problems with payments by “a large-scale fraud” by third parties.

(64.0165 rubles – U.S. $1)

End

04.07.2016 16:48
 
 
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