On results of inspection of financial standing of JSC CB RUBank by provisional administration

During the inspection of the financial standing of JSC CB RUBank, its provisional administration appointed by Bank of Russia Order No. OD-2719, dated 22 August 2016, following the revocation of the banking licence, has revealed operations conducted by the bank’s former management and owners and related to the acquisition of claim rights to non-performing loans worth over 376 million rubles.

Moreover, shortly before the licence revocation, the bank had transferred highly liquid securities worth over 1250 million rubles to a foreign depository, which the provisional administration failed to establish contact with.

According to the provisional administration estimates, the value of JSC CB RUBank assets does not exceed 143 million rubles, while its liabilities to creditors amount to 1,322 million rubles, of which 1,284 million rubles are liabilities to individuals.

On 18 October 2016, the Court of Arbitration of the city of Moscow made a ruling to recognise JSC CB RUBank as insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on financial operations bearing evidence of criminal offences of JSC CB RUBank former management and owners 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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