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Central Bank withdraws licenses from two Moscow banks

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MOSCOW, August 16 (RIA Novosti) - Russia's Central Bank said Thursday it had revoked licenses of two Moscow banks over banking legislation breaches, including the money laundering law, and annulled the license of a Volga area bank.

Moscow-based International Cooperation Bank (MBS Bank) and Hermitage Bank were stripped of their licenses for violations of laws on money laundering and terrorism financing, the Central Bank's press office said.

The Central Bank also annulled the license of commercial bank Volga Mutual Credit Society, located in Nizhny Novgorod, due to its shareholders' decision on voluntary liquidation, the press office said.

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