Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

Results of provisional administration-conducted inspection of CB Russian Mortgage Bank LLC

The provisional administration to manage CB Russian Mortgage Bank LLC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-3034, dated 23 November 2018, following the banking licence revocation, in the course of the inspection of the credit institution established that the Bank’s executives conducted operations which suggest the intention to divert the Bank’s assets through lending to borrowers unable to fulfil their obligations.

The provisional administration estimates the value of the Bank’s assets to be no more than 6.1 billion rubles, vs 8.4 billion rubles of its liabilities to creditors.

On 20 March 2019, the Arbitration Court of the city of Moscow recognised the Bank as bankrupt. The State Corporation Deposit Insurance Agency was appointed as receiver.

In addition to the information sent earlier, the Bank of Russia submitted information on 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 Department of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

22 April 2019

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