On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution PUBLIC JOINT-STOCK COMPANY COMMERCIAL BANK EUROCOMMERCE or PJSC CB EUROCOMMERCE with federal banking laws and Bank of Russia regulations, repeated violations within a year of the requirements of Articles 6 and 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’ and the related 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, repeated application within a year of supervisory measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, and guided by Article 19, Clauses 6 and 6¹ of Part 1 and Clauses 1 and 2 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 the decision (Order No. OD-2889, dated 23 October 2015) to revoke the banking licence from the credit institution PUBLIC JOINT-STOCK COMPANY COMMERCIAL BANK EUROCOMMERCE (Bank of Russia Registration No. 1777, date of registration — 20 April 1992) from 23 October 2015.

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