The Central Bank of Russia has stripped Moscow’s MEZHPROMBANK of its banking licence. According to the CBR, MEZHPROMBANK has broken anti-laundering legislation. The bank failed to meet certain creditors’ obligations on time, infringed mandatory requirements and violated banking accounting procedures. In the past few months, the bank has practically curtailed its activities; the balance sheet total and the capital were reduced by one-third and accounts payable dropped by 20 times.
Source: BANKI.RU, April 21, 2006
