On revocation of banking licence

Due to the failure by the Moscow-based credit institution Commercial Bank Dynamic Systems (Limited Liability Company) CB DS-Bank LLC to comply with federal banking laws and Bank of Russia regulations, because of the established instances of material unreliability of financial statements, taking into account the repeated application within a year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, considering the existence of a serious threat to creditors’ interests, and guided by Article 19, Clauses 3 and 6 of Part 1 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 decided (Order No. OD-1479, dated 12 May 2016) to revoke the banking licence from the credit institution Commercial Bank Dynamic Systems (Limited Liability Company) (Bank of Russia Registration No. 3439, date of registration is 8 July 2003) from 12 May 2016.

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