OREANDA-NEWS. By its Order No. OD-2314, dated 21 July 2016, the Bank of Russia revoked a banking licence of the Moscow-based credit institution Joint-Stock Commercial Bank “STRATEGY” (Public Joint-Stock Company), JSCB “STRATEGY” (PJSC) (Registration No. 2801) from 21 July 2016.

The Bank of Russia took such an extreme measure — revocation of the banking licence — due to the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, capital adequacy ratios being below 2 percent, decrease in capital below the minimal value of the authorised capital established by the Bank of Russia as of the date of the state registration of the credit institution, and the repeated application within a year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.

By its Order No. OD-2315, dated 21 July 2016, the Bank of Russia has appointed a provisional administration to JSCB “STRATEGY” (PJSC) for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy)’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.

According to reporting data, as of 1 July 2016, JSCB “STRATEGY” (PJSC) ranked 209th in the Russian banking system in terms of assets.