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 RUSSIA IN FACTS
30 July 2004 18:50
Central Bank lifts restrictions on Guta Bank
The Bank of Russia has lifted all restrictions on the operations with individual and corporate deposits that it had imposed on Guta Bank.

According to Guta Bank’s press service, restrictions on the following operations were lifted: fundraising through individuals corporate deposits, the opening of bank accounts for natural and legal persons, the issuance of bank guarantees, fundraising through selling the bank’s securities to legal persons in the form of deposit certificates and through selling the bank’s securities to natural persons in the form of saving certificates.

So, Guta Bank resumes fundraising through individual demand and time deposits in all its branches and offices. It will also be able to open accounts and accept deposits through the Telebank System.

On July 28, Guta Bank resumed its services regarding budget payments by legal entities. On July 27, individual money transfers through the systems Anelic, Western Union and Guta-Sprint were resumed.

On July 20, Vneshtorgbank (VTB) completed the acquisition of a 85.8 percent stake in Guta Bank. VTB acquired 2,881,092 ordinary shares of Guta Bank for a symbolic price of RUR 1m.


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