On activity of OJSC JSCB IntrustBank

The provisional administration of OJSC JSCB IntrustBank appointed by Bank of Russia Order No. OD-2520, dated 16 September 2014, due to the revocation of its banking licence, encountered an obstruction of its activity starting the first day of performing its functions.

The management of OJSC JSCB IntrustBank avoided the submission of the bank’s electronic databases (backup copies of databases) containing information on its property and liabilities, and loan documents that could bear evidence of the attempt to conceal the facts of asset withdrawal from the bank.

According to the latest financial statements presented to the Bank of Russia, as of 12 September 2014, the bank’s assets amounted to 12.0 billion rubles, including loans to legal entities accounting for 10.6 billion rubles.

Non-submission of borrowers’ credit history by the management of OJSC JSCB IntrustBank prevents the collection of loans and, subsequently, meeting creditors’ claims. Under these circumstances, according to the Bank of Russia’s preliminary estimates, the bank’s assets do not exceed 0.6 billion rubles, while its liabilities amount to 9.7 billion rubles, of which 5.1 billion rubles are household deposits.

The Bank of Russia submitted the information on the actions of the former management of OJSC JSCB IntrustBank bearing the evidence of the criminal offence 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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08.10.2014 00.00.00