On decline in a credit institution’s common equity ratio

Pursuant to the requirements of Clause 2.3.4 of Bank of Russia Regulation No. 395-P, dated 28 December 2012, ‘On the Methodology for Measuring Bank Capital and Assessing its Adequacy (Basel III)’, the Bank of Russia informs that according to the financial statements of the credit institution PJSC Plus Bank (Registration No. 1189), its common equity adequacy ratio (N1.1) was below the level specified in Clause 2.3.4 of the Regulation on an aggregate basis for six and more business days within 30 consecutive business days during the period from 17.05.2018 till 24.05.2018.

At the same time, the Bank agreed to place information on the termination of the credit institution’s liabilities through debt forgiveness under the following subordinated loan agreements:

— Interbank subordinated loan agreement w/n, dated 11.08.2011, in the wording of Additional Agreement No. 2, dated 02.03.2018, totalling USD11 million;

— Interbank subordinated loan agreement w/n, dated 06.11.2015, in the wording of Additional Agreement No. 1, dated 02.03.2018, totalling USD7.5 million.

The aggregate amount of terminated liabilities under subordinated loans required for the recovery of the value of the Bank’s common equity ratio to the level exceeding 5.125 per cent is USD18.5 million.

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