Source: Russian cbank switches Baikalbank off payment system

MOSCOW, Apr 27 (PRIME) – The central bank has disconnected Baikalbank, ranked Russia’s 211st by assets as of April 1, from its electronic payment system, a measure frequently preceding license revocation, a banking source told PRIME on Wednesday.

A call center official of the Ulan-Ude-based bank said: “The bank is closed due to technical reasons. The offices of the bank are closed. No operations are being made, a system recovery is under way.’

Retail deposits with the bank amount to 7.7 billion rubles, according to its financial statement.

(66.4559 rubles – U.S. $1)

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