On the findings of the provisional administration-conducted financial assessment of Deal-bank Ltd

The provisional administration to manage Deal-bank Ltd (further — the Bank) as appointed by Bank of Russia Order No. OD-3589, dated 14 December 2015, following banking licence revocation, in the course of its financial assessment of this credit institution, revealed the former bank executives-performed transactions which are indicative of asset siphoning off through extending loans to organisations bearing the signs of shell companies as well as to those with dubious solvency, to a total of at least 3.8 billion rubles.

Additionally revealed were transactions suggesting asset siphoning off through placing funds with the Bank-affiliated companies, to a total of 0.4 billion rubles; the actual shortage of cash in the Bank’s vaults of 0.25 billion rubles was established.

The provisional administration estimates the value of the Bank assets to be not more than 3.9 billion rubles, vers. 11 billion rubles of its liabilities to creditors.

On 18 June 2016, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. The State Corporation Deposit Insurance Agency was approved to act as its bankruptcy receiver.

The information on financial transactions indicative of criminal acts as carried out by the Bank’s former executives and owners was submitted by the Bank of Russia to the Office for Prosecutor General of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation, to be reviewed and to enable the appropriate procedural decisions to be made.

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11.07.2016 00.00.00