👺 Russia🇷🇺: The Central Bank revoked the banking license of “American Express Bank”

👺 Russia🇷🇺: The Central Bank revoked the banking license of “American Express Bank”

In Russia's banking system, it held the respectable position of number 300.

🆎 How did it happen?: In March 2022, the company stopped cooperating with Russian banks that were included in the sanctions lists, and later ceased all commercial operations in the country. Instead of selling the business, “American Express Bank” voluntarily decided to give up its license.

🆎 Interfax highlighted that the net loss of “American Express Bank” in 2023, according to RAS, was 87.4 million rubles.

🆎 In Belarus🇧🇾, American Express also suspended its operations.

#news #Russia