The provisional administration to manage Bank Metropol Limited, further referred to as the Bank, as appointed by Bank of Russia Order No. OD-4013, dated 18 November 2016, following banking licence revocation, has been faced up with obstruction since day one of its operations, which the Bank of Russia believes to be an attempt at concealing the facts of bank asset embezzlement. In this way, the Bank’s executives failed to provide documents of title on the Bank’s real estate of over 550 million rubles of carrying value.
In the course of the provisional administration-conducted cash revision, a shortage of cash to a total of 21.4 million rubles was established. The financial assessment of the Bank also revealed transactions consisting in extension of loans to legal entities and individuals of doubtful solvency.
The provisional administration estimates the value of the Bank assets to be 1,130.9 million rubles, vers. 2,413.8 million of its liabilities to creditors.
On 7 February 217, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. 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.