Bank of Russia wants RGT Bank’s bankruptcy

The Central Bank of the Russian Federation placed an application with Moscow Arbitration Court, demanding that Moscow-based Russian-German Merchant Bank (RGT-BANK) be declared bankrupt, a court representative told Russian Agency of Legal and Court Information (RAPSI), RIA Novosti reports.

The Bank of Russia called off the bank’s license allowing RGT Bank to engage in banking operations on December 21, 2010.

RGT Bank was set up in 1994 by Ost-West Handelsbank AG (known as VTB Bank (Deutschland) since 2006), Russia’s Central Bank’s daughter enterprise. Six Russian companies dealing in foreign economic activity were the bank’s other stockholders at the time.


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