On activity of OJSC CB MVKB provisional administration

The provisional administration of OJSC CB MVKB appointed by Bank of Russia Order No. 1016, dated 28 March 2016, following revocation of its banking licence detected in the course of examination of the bank’s financial standing transactions carried out by OJSC CB MVKB former management which bear the evidence of moving out assets through extending loans worth about 700 million rubles to organisations with dubious solvency and replacing liquid assets with illiquid receivables worth about 400 million rubles.

According to estimates by the provisional administration, the asset value of OJSC CB MVKB does not exceed 307 million rubles, while its liabilities to creditors amount to 1,095 million rubles.

On 30 May 2016, the Court of Arbitration of the city of Moscow took a decision to recognise OJSC CB MVKB insolvent (bankrupt) with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of OJSC CB MVKB 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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06.09.2016 00.00.00