On results of inspection of financial standing of JSCB AltaiBiznes-Bank (JSC) held by provisional administration

The provisional administration of JSCB AltaiBiznes-Bank (JSC), appointed by Bank of Russia Order No. OD-84, dated 19.01.2018, due to the revocation of its banking licence, revealed operations which bear signs of transactions aimed at siphoning off assets through lending to borrowers which are affiliated with the bank, have dubious creditworthiness and which are not engaged in real business activity, as well as through the purchase of claims on loans, with a subsequent transfer of them to third parties with deferral of payment.

Also, the provisional administration encountered obstruction of its operations from the bank’s management team that failed to submit the credit institution’s documents to enable the provisional administration to perform its duties.

The provisional administration estimates the assets of JSCB AltaiBiznes-Bank (JSC) to total less than 156 million rubles, whereas the bank’s liabilities to its creditors amount to 180 million rubles.

On 15 March 2018, the Arbitration Court of the Altai Territory recognised the Bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of JSCB AltaiBiznes-Bank (JSC) to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation for consideration and procedural decision-making.

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