UPDATE 1-Czech central bank bans ERB Bank from taking deposits and providing loans

March 9, 2016 10:05 AM

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PRAGUE, March 9 The Czech central bank said on Wednesday it had banned ERB Bank, which focuses on business with Russia, from taking deposits and providing loans, pending regulatory actions.

The central bank said the decision was taken to avoid losses in case the bank's position deteriorates. It gave no details.

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