On revocation of banking licence

Due to the non-compliance by the Cherepovets-based credit institution joint-stock company Commercial Bank of Social Development Bumerang or JSC Comsotsbank Bumerang with federal banking laws and Bank of Russia regulations, inability to meet the creditors’ claims on monetary obligations, taking into account the repeated application over the past year of supervisory measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, and guided by Article 19, Clause 6 of Part 1 and Clause 4 of Part 2 of Article 20 of the Federal Law ‘On Banks and Banking Activities’, and Part 11 of Article 74 of the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, the Bank of Russia took a decision (Order No. OD-1109, dated 20 May 2015) to revoke from 20 May 2015 the banking licence from the credit institution joint-stock company Commercial Bank of Social Development Bumerang (Bank of Russia Registration No. 1002, date of registration — 28 November 1990).

The reference to the Press Service is mandatory if you intend to use this material.

20.05.2015 00.00.00