Banking licence of NBMC cancelled
By its Order No. OD-1627, dated 12 July 2019, the Bank of Russia cancelled the banking licence of the Moscow-based Joint-stock Commercial Bank National Bank of Mutual Credit (joint-stock company) or NBMC (Reg. No. 3214). The credit institution ranked 411th by assets in the Russian banking system.1
The licence of NBMC was cancelled2 following the request that the credit institution submitted to the Bank of Russia after the decision of the general shareholders’ meeting on its voluntary liquidation (in accordance with Article 61 of the Civil Code of the Russian Federation).
Based on the reporting data provided to the Bank of Russia, the credit institution has enough assets to satisfy creditors’ claims.
A liquidation commission will be appointed to NBMC.3
NBMC is not a member of the deposit insurance system.
1 According to the financial statements as of 1 July 2019.
2 The licence was cancelled in accordance with Article 23 of the Federal Law ‘On Banks and Banking Activities’.
3 In accordance with Article 62 of the Civil Code of the Russian Federation and Article 21 of the Federal Law ‘On Joint-stock Companies’.
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