Source: Russian cbank cuts small bank off payment system

MOSCOW, Jan 19 (PRIME) -- The central bank has disconnected Talmenka-Bank, Russia’s 429th largest bank by assets as of October 1, 2016, from the rapid payment system, a measure often preceding license revocation, a banking source told PRIME on Thursday.

Previously, a representative of Altai-based Talmenka-Bank told PRIME that the bank suspended operations of all clients. The bank could not be reached for comment, and an automatic answering machine of the Moscow office of the bank is notifying clients of an “information attack” on the bank.

Maxim Osadchy, director of the research department at Corporate Finance Bank, said that deposits of clients and individual entrepreneurs with the bank stood at 1.2 billion rubles as of December 1 and the Deposit Insurance Agency may have to redeem 1.1 billion rubles of deposits to the clients of the bank if an event insured happens.

(59.1830 rubles – U.S. $1)

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