On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution open joint-stock company JOINT-STOCK COMMERCIAL BANK UNIVERSAL CREDIT or OJSC JSCB Universal Credit with federal banking laws and Bank of Russia regulations, revealed facts of significant unreliability of reporting data, capital adequacy ratio below 2 percent, decrease in own funds (capital) below the minimal value of authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution, 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 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-2776 dated 9 October 2014) to revoke the banking licence from the credit institution open joint-stock company JOINT-STOCK COMMERCIAL BANK UNIVERSAL CREDIT (Bank of Russia Registration No. 2903, date of registration — 21 June 1994) from 9 October 2014.

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09.10.2014 00.00.00