On revocation of banking licence

Due to the non-compliance by the Makhachkala-based credit institution COMMERCIAL BANK ESID, LIMITED LIABILITY COMPANY, or ESIDBANK LLC with federal banking laws and Bank of Russia regulations, repeated violations within a year of the requirements of Article 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’, revealed facts of significant unreliability of the reporting data, capital adequacy below 2%, decrease in equity (capital) below the minimal amount of the authoruised capital established by the Bank of Russia as of the date of the state registration of the credit institution, inability to meet the creditors’ claims on monetary liabilities, taking into account the repeated application over the past 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 3 and 6 of Part 1 and Clauses 1, 2 and 4 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 a decision (Order No. OD-2647 dated 30 September 2014) to revoke the banking licence from the credit institution COMMERCIAL BANK ESID, LIMITED LIABILITY COMPANY (Bank of Russia Registration No. 1991, date of registration — 29 July 1992), from 30 September 2014.

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30.09.2014 00.00.00