Results of inspection of financial standing of JSCB Mosuralbank (JSC) held by provisional administration

The provisional administration to manage JSCB Mosuralbank (JSC) (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1556, dated 22.06.2018, following banking licence revocation, in the course of the inspection of the Bank’s financial standing established that the Bank’s management conducted operations to divert funds through lending to legal entities with dubious creditworthiness or which might knowingly default on their obligations.

On 11 September 2018, the Arbitration Court of the City of Moscow 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 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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