On the results of the provisional administration-conducted financial assessment of Commercial Bank Kubansky Universal Bank (LLC)

The provisional administration to manage Commercial Bank Kubansky Universal Bank (LLC), further — the Bank, as appointed by Bank of Russia Order No. OD-3674, dated 27 October 2016, following banking licence revocation, conducted a review of the Bank’s loan portfolio; this review found that the Bank’s credit exposure was undervalued by as much as 840 million rubles.

The provisional administration estimates the value of the Bank assets to be not more than 1,286.9 million rubles, vers. 1,938.8 million of its liabilities to creditors.

On 16 January 2016, the Arbitration Court of the Krasnodar Territory 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 the criminal offence conducted by the former management and owners of the Bank 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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03.04.2017 00.00.00