07:07 AM EDT, 08/13/2024 (MT Newswires) -- Russia's central bank said on Tuesday it revoked the banking license of American Express Co.'s ( AXP ) Russian subsidiary after the bank's unit filed a request for voluntary liquidation.

The central bank said that the credit institution ranked 300th in assets in the Russian banking system.

It added that a liquidator will be appointed to American Express Bank.

American Express ( AXP ) did not immediately respond to MT Newswires' request for comment.

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