The provisional administration to manage Commercial Bank Kamskiy Gorizont (Limited Liability Company) , further referred to as the Bank, as appointed by Bank of Russia Order No. OD-3777, dated 3 November 2016, following banking licence revocation, has conducted a probe into the financial state of the Bank. The probe found the quality of the Bank’s loan portfolio to be low, which comes as a result of loans it extended to entities which appear to be shell companies; the probe also established a shortage of cash.
On 11 January 2017, the Court of Arbitration of the Republic of Tatarstan recognised the Bank as insolvent. The State Corporation Deposit Insurance Agency was approved to act as its bankruptcy receiver.
The information on financial transactions indicative of criminal acts as carried out by the Bank’s former executives and owners was submitted by the Bank of Russia to the Office for Prosecutor General of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation, to be reviewed and to enable the appropriate procedural decisions to be made.