On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution Bank TANDEM, limited liability company, or TANDEMBANK LLC with federal banking laws and Bank of Russia regulations, revealed facts of considerable unreliability of reporting data, inability to meet creditors’ claims on monetary obligations, 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 Clause 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-699, dated 2 April 2015) to revoke the banking licence from the credit institution Bank TANDEM, limited liability company (Bank of Russia Registration No. 1951, date of registration — 2 July 1992) from 2 April 2015.

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02.04.2015 00.00.00