OREANDA-NEWS. By its Order No. OD-1295, dated 10 June 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Non-bank credit institution Euroinvest (limited liability company) or NCI Euroinvest (LLC) (Registration No. 3383-K) from 10 June 2015.

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, repeated violation within one year of the requirements of Article 7 (except for Clause 3 of Article 7) of the Federal Law 'On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism' and application of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (the Bank of Russia)'.

NCI Euroinvest (LLC) has failed to comply with legislation requirements as regards countering the legalisation (laundering) of criminally obtained incomes and the financing of terrorism in terms of timely and full notification of the authorised body about operations subject to obligatory control.

By its Order No. OD-1296, dated 10 June 2015, the Bank of Russia has appointed a provisional administration to NCI Euroinvest (LLC) 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 the financial statements, as of 1 June 2015, NCI Euroinvest (LLC) ranked 788th by assets in the Russian banking system.