Results of provisional administration-conducted inspection of financial standing of JSC East-Siberian Transport Commercial Bank

The provisional administration to manage Joint Stock Company East-Siberian Transport Commercial Bank (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-2716, dated 19 October 2018, following the banking licence revocation, in the course of its inspection of the Bank, established evidence suggesting that the Bank’s executives conducted operations to either siphon off funds or conceal assets previously siphoned off — by theft of funds or abuse of authority.

The provisional administration estimates the bank’s assets to total 2,043 million rubles, whereas its liabilities to creditors amount to 2,282 million rubles.

The Bank of Russia submitted a claim to the Court of Arbitration of the Irkutsk Region to declare the bank bankrupt. The hearing is scheduled for 5 March 2019.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the Bank’s executives 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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