The Pak Banker - - FRONT PAGE -

Rus­sia's cen­tral bank said Mon­day it had re­voked the li­censes of two more banks as part of govern­ment ef­forts to con­sol­i­date the sec­tor as eco­nomic trou­bles mount. Rus­sia's 67th len­der by as­sets, In­ter­com­merz had failed to ad­e­quately as­sess risks de­spite the poor qual­ity of its as­sets, the cen­tral bank said.

"At the same time the bank was in­volved in du­bi­ous trans­ac­tions," it added. The Bank of Rus­sia also said it had re­voked the li­cense of a smaller len­der, Alta-Bank. The coun­try's 186th bank by as­sets, Alta-Bank had failed to meet its obli­ga­tions to cred­i­tors, the cen­tral bank said.

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