License of Russia's Sovetsky bank revoked

License of Russia's Sovetsky bank revoked

Russia’s central bank has revoked a banking license from Saint Petersburg-based bank Sovetsky today, the authority said.

In February 2012, the Bank of Russia has approved the plans of its participation in bankruptcy prevention measures for the bank. Since February 22, the temporary administration was given to the Banking Sector Consolidation Fund, TASS recalls.

Since March 14, 2016, Sovetsky Bank operated as a subsidiary of Public Joint Stock Company Tatfondbank.

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