On results of inspection of financial standing of OJSC JSCB Kapitalbank by provisional administration

The provisional administration of OJSC JSCB Kapitalbank appointed by Bank of Russia Order No. OD-522, dated 15 February 2016, following the revocation of its banking licence detected in the course of examination of the credit institution’s financial standing operations carried out by the bank’s former management which bear the evidence of moving out assets also through extending loans to shell companies not engaged in real economic activity for the amount over 1.7 billion rubles, replacing liquid assets with claims to companies with dubious solvency for the amount of 170 million rubles, and also through the alienation of property in the form of securities to third parties for the amount over 250 million rubles. Moreover, the provisional administration revealed the deficiency of funds in the amount of over 300 million rubles.

According to the provisional administration’s estimates, the value of assets of OJSC JSCB Kapitalbank does not exceed 1.7 billion rubles with the value of liabilities to creditors standing at 3.96 billion rubles, including to households — 2.2 billion rubles.

On 30 March 2016, the court of arbitration of the Rostov Region made a ruling to recognise OJSC JSCB Kapitalbank as insolvent (bankrupt) and initiate bankruptcy proceedings. The state corporation Deposit Insurance Agency was approved as a receiver.

The Bank of Russia sent information on the financial operations of criminal nature made by the former managers and owners of OJSC JSCB Kapitalbank 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 making the respective procedural decisions.

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06.09.2016 00.00.00