On financial resolution measures applied to OJSC NB TRUST

On 22 December 2014, the Bank of Russia Board of Directors took a decision on the financial resolution of OJSC National Bank TRUST and approved the plan for participation of the state corporation Deposit Insurance Agency (hereinafter, the Agency) in preventing bankruptcy of OJSC National Bank TRUST.

The participation plan provides for appointing the Agency to perform the functions of the provisional administration of the Bank from 22 December 2014. The powers of shareholders of the Bank connected with their participation in the authorised capital, and the powers of the executive bodies are suspended for the period of activity of the provisional administration.

In accordance with the approved participation plan, the Agency will provide OJSC National Bank TRUST financial aid in the amount of 30 billion rubles out of Bank of Russia loan to support its liquidity.

In the short term an investor of OJSC National Bank TRUST will be selected. A large Russian bank is supposed to act as the investor.

Simultaneously, the Agency will hold a complex assessment of the Bank’s financial standing in order to determine further financial resolution measures.

The implementation of the approved participation plan will enable OJSC National Bank TRUST to make uninterrupted settlements. All customers of the Bank, including its depositors, will be able to use its services as usual.

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