UPDATE 1-Russian central bank revokes Probusinessbank's license

August 12, 2015 8:38 AM

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MOSCOW Aug 12 (Reuters) - Russia's central bank said on Wednesday it had revoked the license of Probusinessbank for failing to comply with federal laws and regulations, as a result of which the mid-sized lender failed to meet minimum capital requirements.

Russia's banks are facing pressure as low oil prices and Western sanctions linked to the Ukraine crisis have caused an economic slump, leading to a deterioration in banks' assets.

Also read: Russian Central Bank: Hackers Stole $31 Million From Correspondent Accounts

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