27 Jul 2012 10:45

Central Bank pulls license from Khlebobank

MOSCOW. July 27 (Interfax) - The Russian Central Bank has revoked the banking license from joint-stock commercial bank Khlebobank (Moscow), the CBR said in a statement.

The CBR made its decision based on Khlebobank's failure to comply with bank laws, regulated bank activities and CBR regulations, as well as the significant unreliability of the bank's financial reporting data.

Khlebobank was Russia's 402nd largest bank by assets at the end of Q1 2012, according to the Interfax-100 ranking.