On results of inspection of financial standing of LLC LENOBLBANK by provisional administration
In the course of supervision activities the Bank of Russia has detected the underassessment of risks assumed by LLC LENOBLBANK resulting from a low quality of its assets. In the wake of a corresponding request made by the Bank of Russia the credit institution management performed a partial replacement of the troubled asset worth 1.7 billion rubles with units of a closed-end real estate unit investment fund (hereinafter, CREUIF) which had been overvalued in accounting documents.
The provisional administration of LLC LENOBLBANK appointed by Bank of Russia Order No. OD-2837, dated 16 October 2015, due to the revocation of the banking licence during the examination of the bank’s financial standing revealed other operations to replace assets of the credit institution with CREUIF units which bear the evidence of moving out liquid assets.
Besides, LLC LENOBLBANK management avoided the transfer to the provisional administration of credit agreements and CREUIF unit acquisition contracts worth 0.2 billion rubles.
According to estimates by the provisional administration, the asset value of LLC LENOBLBANK did not exceed 2.2 billion rubles, while its liabilities to creditors amounted to 5.3 billion rubles.
On 17 December 2015, the Court of Arbitration of the city of Saint Petersburg and the Leningrad Region took a decision to recognise LLC LENOBLBANK insolvent (bankrupt) and to initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.
The Bank of Russia has submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of LLC LENOBLBANK to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.
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02.08.2016 00.00.00