Results of provisional administration-conducted inspection of Joint-stock Company Bank for Development and Technologies and Savings

The provisional administration to manage JSC RTS BANK (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-512, dated 14 March 2019, following the banking licence revocation, in the course of the inspection of the credit institution established that the Bank’s officials conducted operations to divert funds through lending to borrowers with dubious solvency or knowingly unable to meet their obligations to the Bank.

The provisional administration estimates the value of the Bank’s assets to be no more than 0.9 billion rubles, whereas its liabilities to creditors exceed 1.3 billion rubles.

On 13 May 2019, the Arbitration Court of the Samara Region recognised the Bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as receiver.

The Bank of Russia submitted the information on the financial transactions suggestive of criminal offence conducted by the Bank’s executives to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

The reference to the Press Service is mandatory if you intend to use this material.