On appointing the state corporation Deposit Insurance Agency to perform the functions of provisional administration

Pursuant to Federal Law No. 127-FZ, dated 26 October 2002, ‘On Insolvency (Bankruptcy)’, the Bank of Russia took a decision to appoint the state corporation Deposit Insurance Agency to perform the functions of the provisional administration of the public joint-stock company Joint-stock Commercial Bank INVESTMENT TRADE BANK or PJSC JSCB INVESTTRADEBANK and the joint-stock company Volgo-Oksky Commercial Bank or JSC VOCBANK participating in the bank holding OJSC ITB Holding from 27 August 2015.

The main objective of the provisional administrations is to inspect the financial standing of PJSC JSCB INVESTTRADEBANK and JSC VOCBANK, including determining the most optimal measures to protect interests of depositors and creditors.

The powers of shareholders of the banks connected with their participation in the authorised capital and the powers of executive bodies are suspended for the period of the provisional administrations’ functioning.

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27.08.2015 00.00.00