On revocation of banking licence

Due to the non-compliance by the Samara-based credit institution Open Joint-Stock Company Commercial Volga-Credit Bank or OJSC VLCB with federal banking laws and Bank of Russia regulations, capital adequacy below 2%, a decrease in capital below the minimal amount of the authorised capital established as of the date of the state registration of the credit institution, taking into account the repeated application over the past year of measures stipulated by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, and guided by Article 19 of Clause 6 of Part One and Clauses 1 and 2 of Part Two of Article 20 of the Federal Law ‘On Banks and Banking Activities’, and Part Eleven 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-3738, dated 30 December 2014) to revoke the banking licence from the credit institution Open Joint-Stock Company Commercial Volga-Credit Bank (Bank of Russia registration No. 1153, date of registration is 11 December 1990) from 30 December 2014.

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30.12.2014 00.00.00