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. Last Updated: 07/27/2016

Gorny Altai Liquidated

MOSCOW () -- Liquidation procedures are commencing in relation to the Siberian-based commercial bank Gorny Altai, the Russian Central Bank said in a statement.

Gorny Altai had been taken into receivership by the Central Bank in August but was released Friday to face liquidation, the statement said.

When the Central Bank took over management at the bank in August, it was ranked as the 102nd-biggest Russian bank by the Rating Information Center, with assets of 674 billion rubles ($123.6 million).