On revocation of banking licence

Due to the non-compliance by the Derbent-based credit institution Commercial Bank PrestigeCreditBank, limited liability company, or CB PrestigeCreditBank LLC (the Republic of Dagestan) with federal banking laws and Bank of Russia regulations, capital adequacy below 2%, decrease in equity (capital) below the minimal amount of the authoruised capital established as of the date of the state registration of the credit institution, inability to meet the creditors’ claims on monetary obligations, application 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 Clauses 1, 2 and 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-3299 dated 26 November 2014) to revoke the banking licence from the credit institution Commercial Bank PrestigeCreditBank, limited liability company (Bank of Russia Registration No. 2922, date of registration — 27 June 1994), from 26 November 2014.

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26.11.2014 00.00.00