21 Jan 2013 12:31

Central Bank pulls license from Makhachkala-based Bank Express

TOMSK. Jan 21 (Interfax) - The Central Bank of Russia has revoked the banking license from Makhachkala-based Bank Express for not upholding federal banking laws or Central Bank regulations, the CB reported.

The bank is a member of the deposit insurance system.

At the end of Q3 2012, Bank Express was Russia's 268th largest bank by assets, its 307th largest by equity capital and its 184th largest by retail deposits (4.73 billion rubles), according to the Interfax-100 ranking.

According to the CB, ten private individuals own shares in the company, with 10% each.