Term of activity of provisional administration of JSC VOCBANK extended

The Bank of Russia decided to extend the term of activity of the provisional administration to manage Joint-stock Company Volga-Oka Commercial Bank (hereinafter, JSC VOCBANK, Registration No. 312) assigned to FBSC AMC Ltd. by six months (from 18 October 2019) with the suspension of the powers of the credit institution’s executive bodies in compliance with Clause 1 of Article 189.27 of Federal Law No. 127-FZ, dated 26 October 2002, ‘On Insolvency (Bankruptcy)’.

The restructuring of JSC VOCBANK through its merger with Public Joint-stock Company Moscow Industrial Bank, or PJSC MInBank will be completed soon as envisaged by the plans for the Bank of Russia’s participation in measures to prevent bankruptcy of JSC VOCBANK and PJSC MInBank.

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