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Russian regulator cancels license of EvrositiBank

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Russian regulator cancels license of EvrositiBank

TheCentral Bank of the RussianFederation revoked the license of , placing thelender under provisional administration until the appointment of a receiver ora liquidator.

Theregulator said that after receiving debt enforcement documents from Russia'stax authorities, the lender lost its creditworthiness and terminated itsoperations in early July. Its owners and managers failed to take effectivemeasures to restore normal operations.

Asof June 1, the bank ranked 245th in the Russian banking system in terms ofassets.