On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution Congress-Bank, open joint-stock company (Congress-Bank OJSC) with federal banking laws and Bank of Russia regulations, 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 also taking into account that the Bank failed to reach the minimum amount of equity (capital) as of 1 January 2015, stipulated by Part 7 of Article 11² of the Federal Law ‘On Banks and Banking Activities’, and failed to submit to the Bank of Russia an application to change its status to that of a non-bank credit institution, and guided by Article 19, Clause 6 of Part 1 and Clause 5 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-615, dated 24 March 2015) to revoke the banking licence from the credit institution Congress-Bank, open joint-stock company (Bank of Russia Registration No. 2330, date of registration — 29 April 1993) from 24 March 2015.

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24.03.2015 00.00.00