SMP Bank not planning to sue Visa, MasterCard - bank chief

SMP Bank is not planning to take Visa or MasterCard to court, the bank's chief, Dmitry Kalantyrsky, told the press on Monday.

SMP Bank is not planning to take Visa or MasterCard to court, the bank's chief, Dmitry Kalantyrsky, told the press on Monday.

"We think that a majority of disputed issues can be resolved out of court, and are hoping that we are not disappointed in our conviction," Kalantyrsky said when asked if the bank might seek compensation for damages done by the two payment systems' recent actions.

SMP Bank, controlled by Arkady and Boris Rotenberg, confirmed on Friday that Visa and MasterCard had blocked operations with their cards issued by the bank. But the payment systems decided over the weekend to reverse course.

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