Feb 8 Russia's central bank said on Monday it had revoked the licence of Commercial Bank Intercommerz, Russia's 67th lender by assets, part of a long-running campaign to clean up the country's financial sector.
Despite the bad quality of its assets, Intercommerz had failed to assess adequately risks, being involved in "dubious transit operations", the central bank said.
By: Reuters (Moscow).
Reporting: Lidia Kelly.
Writing: Dmitry Solovyov.
Review: Emerging Market Formulations &
Research Unit, Flagship Records.
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