Finance accounting and audit

Bank of Russia revoked the banking licence of the credit institution Investment Commercial Bank OLMA-Bank, a limited liability company, or ICB OLMA-Bank LLC (Registration No. 3250, Moscow) from 18 November 2016.

Bank of Russia revoked the banking licence from the credit institution Commercial Bank Metropol (Limited Liability Company), or CB Metropol Ltd (Registration No. 1539, the city of Moscow) from 18 November 2016.

By its Order No.OD-4010, dated 18 November 2016, the Bank of Russia revoked the banking licence of the credit institution or JSCB NZBank (Registration No. 2944, the town of Dolgoprudny, the Moscow Region).

JSC KazMunaiGas Exploration Production announces its consolidated interim financial results for the nine months ended 30 September 2016.

On 17 November the EU institutions reached an agreement on the 2017 EU budget. As proposed by the Commission earlier this year, in 2017 the EU will spend more money on making Europe more competitive and more secure.

Meritor, Inc. (NYSE:MTOR) today reported financial results for its fourth quarter and full fiscal year ended Sept. 30, 2016. 

PAO TMK (“TMK” or “the Group”), one of the world’s leading producers of tubular products for the oil and gas industry, today announces its interim consolidated IFRS financial results for the third quarter of 2016 and nine months ending September 30, 2016.

By its Order No. OD-3983, dated 16 November 2016, the Bank of Russia revoked the banking licence from the credit institution Commercial Bank Express-credit (stock company) (Registration No. 210, the city of Moscow) from 16 November 2016.

According to estimates by the provisional administration, the total asset value of LLC CB CREDO FINANCE does not exceed 89 million rubles, while its liabilities to creditors amount to 95 million rubles.

Tentative data suggest that the economy grew in October, albeit with substantially mixed economic performance across sectors.

In October 2016, NBU completed the examination of related-party asset-side transactions of 14 banks.  In total, of 1 November 2016 the regulator verified such transactions in 58 banking institutions.