On cancelling banking licence of the credit institution IRONBANK

By its Order No. OD-1398, dated 29.05.2017, the Bank of Russia revoked the banking licence from the Moscow-based credit institution IRON BANK (Joint-stock Company), Registration No. 1724-K, further referred to as the credit institution. According to the financial statements, as of 1 May 2017, the credit institution ranked 560^th by assets in the Russian banking system.

The Bank of Russia cancels the credit institution’s banking licence based on Article 23 of the Federal Law ’On Banks and Banking Activities’ following the decision of the credit institution’s authorised body to terminate its activity through liquidation according to Article 61 of the Civil Code of the Russian Federation and the submission of the respective application to the Bank of Russia.

Based on the data provided to the Bank of Russia, the credit institution has enough property to satisfy creditors’ claims.

In compliance with Article 62 of the Civil Code of the Russian Federation and Article 21 of the Federal Law ’On Joint-stock Companies’, a liquidation commission will be appointed to IRONBANK.

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