On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution open joint-stock company Bank Narodniy Credit or OJSC Bank Narodniy Credit with federal banking laws and Bank of Russia regulations, 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, Clause 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-2780 dated 9 October 2014) to revoke the banking licence from the credit institution open joint-stock company Bank Narodniy Credit (Bank of Russia Registration No. 2401, date of registration — 28 June 1993) from 9 October 2014.

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09.10.2014 00.00.00