Melikyan Criticizes IIB

International Industrial Bank, or Mezhprombank, merely created the appearance of lending to support the economy, while loans to the real sector accounted for 6 percent of its portfolio, RIA-Novosti reported Saturday, citing Gennady Melikyan, a first deputy chairman of the Central Bank.

The Central Bank revoked IIB’s license on Oct. 5, the report said.

(Bloomberg)


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