7 Jul 2011 12:52

CB withdraws two bank licenses due to liquidation

MOSCOW. July 7 (Interfax) - The Central Bank has annulled the licenses of two small banks, Surgut-based Sibirgazbank and Moscow-based Women's Microfinance Network, due to their liquidation, the Central Bank said.

Liquidators have been appointed at both banks, which have sufficient assets to satisfy creditors. Sibirgazbank is a participant of the deposit insurance system. It was Russia's 425th largest bank by assets, according to the Interfax-100 ranking at the end of Q1 2011.