On results of inspection of financial standing of ECOPROMBANK, joint-stock commercial bank conducted by provisional administration
During the examination of financial standing of the credit institution, the provisional administration to manage ECOPROMBANK JSCB appointed by Bank of Russia Order No. OD-2122, dated 18 August 2014, due to the revocation of its banking licence, revealed large-scale transactions which bear evidence of diverting bank’s assets.
The provisional administration established that prior to the licence revocation, at the time when the bank experienced solvency problems, the bank’s management and owners, using various ‘schemes’, conducted large-scale transactions to divert bank’s assets through issuing loans in the amount of 673.2 million rubles to organisations and households with doubtful creditworthiness, and also wrote off loan collateral in the amount of 138.2 million rubles.
Moreover, as a result of purchase-and-sale deals with units of close-end unit investment funds, uncollectible accounts receivable totalling 2,650.5 million rubles were registered on the bank’s balance sheet.
According to the estimates made by the provisional administration, the value of assets of ECOPROMBANK JSCB does not exceed 5,329.9 million rubles, while its liabilities to creditors amount to 6,392.8 million rubles.
Under these circumstances, on 29 September 2014, the Arbitration court of the Perm Territory took a decision to recognize ECOPROMBANK JSCB insolvent (bankrupt) and to initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.
The Bank of Russia submitted information on the financial transactions bearing the evidence of criminal offence conducted by the former management and owners of ECOPROMBANK JSCB to the General Prosecutor’s Office of the Russian Federation and the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision making.
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05.12.2014 00.00.00