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Bankruptcy prevention measures for JSC VOCBANK

17 April 2019
Press release

The Bank of Russia approved the plan of its participation in bankruptcy prevention measures for Joint-stock Company Volga-Oka Commercial Bank, JSC VOCBANK (Registration No. 312, Nizhny Novgorod).

Starting 17 April 2019, the functions of the provisional administration to manage JSC VOCBANK have been assigned to the Limited Liability Company Fund of Banking Sector Consolidation Asset Management Company as part of the participation plan.

The decision was made following the revocation on 17 April 2019 of the banking licence from JSC TROIKA-D BANK, which was the investor of JSC VOCBANK as part of the bankruptcy prevention measures with the participation of the State Corporation Deposit Insurance Agency.

The Bank will continue to operate in a business-as-usual manner and to perform its obligations. No moratorium on payments under creditors’ claims is imposed.

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