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Russia’s Central Bank revokes the license for Mosuralbank (co-owned by Igor Sechin's ex-wife)

Source: Meduza

Russia’s Central Bank has revoked Mosuralbank’s license, accusing it of “serving shareholders’ interests” and providing unreliable financial records. One of the bank’s co-owners is Igor Sechin’s ex-wife, Marina. (They divorced in 2011, when Sechin was a deputy prime minister.)

“The bank’s business model had a distinct captive nature and was focused on serving the interests of shareholders and affiliated persons, which led to a significant number of toxic assets on its balance sheet,” the regulator concluded, adding that Mosuralbank filed false reports with the Central Bank. Officials have reportedly provided information about Mosuralbank’s possible criminal actions to Russian law enforcement.

In terms of assets, Mosuralbank is Russia’s 269th largest bank. It has branches in Moscow, Arkhangelsk, Vologda, Sverdlovsk, and Chelyabinsk.

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