On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company) or OJSC JSCB Lesbank with federal banking legislation and Bank of Russia regulations, taking into account repeated application within one year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, considering a real threat to the bank’s creditors and investors, and guided by Article 19, Clause 6 of Part 1 of Article 20 of the Federal Law ‘On Banks and Banking Activity’, Part 11 of Article 74 and Article 75 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-2660, dated 6 October 2015) to revoke the banking licence of the credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company) (Bank of Russia Registration No. 1598, date of registration — 25 October 1991) from 6 October 2015.

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06.10.2015 00.00.00