Results of provisional administration-conducted inspection of LLC CB Agrosoyuz

The provisional administration to manage LLC CB Agrosoyuz (the Bank) appointed by Bank of Russia Order No. OD-2901, dated 7 November 2018, following banking licence revocation, in the course of the inspection of the credit institution established that the Bank’s management conducted operations to divert funds through the sale of real estate and motor vehicles.

The provisional administration estimates the value of the Bank’s assets to be no more than 1.3 billion rubles, vs 16 billion rubles of its liabilities to creditors.

On 4 February 2019, the Arbitration Court of the city of Moscow recognised the Bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as receiver.

In addition to the information sent earlier, the Bank of Russia submitted information on financial transactions bearing the evidence of criminal offence conducted by the Bank’s officials to the Prosecutor General’s Office of the Russian Federation and the Investigative Department of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

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19.03.2019 00.00.00