On financial resolution measures for JSC FUNDSERVICEBANK

The Bank of Russia has approved amendments to the plan for the State Corporation Deposit Insurance Agency to participate in bankruptcy prevention measures for Joint Stock Company FUNDSERVICEBANK, further referred to as the Bank.

The resolution of the Bank provides for State Space Corporation ROSCOSMOS to act as the Investor.

Under the plan, FUNDSERVICEBANK’s authorised capital will be increased at the expense of the Investor; the Bank will subsequently operate as a credit institution providing core banking services to State Space Corporation ROSCOSMOS and its subsidiaries.

Once implemented, these measures will assist in the delivery of the Bank’s financial rehabilitation and business recovery as a full-service credit institution compliant with all Bank of Russia statutory requirements.

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