On results of inspection of financial standing of CB BDT (JSC) held by provisional administration

During the examination of financial standing of the credit institution, the provisional administration appointed by Bank of Russia Order No. OD-1664, dated 27 May 2016, due to the revocation of the banking licence of CB BDT (JSC) revealed operations conducted by the CB BDT (JSC) former management bearing the evidence of moving out assets in the total amount of more than 1 billion rubles through conscious granting of non-performing loans to companies bearing the evidence of non-operating institutions.

According to the provisional administration estimate, the assets of CB BDT (JSC) do not exceed 1.3 billion rubles, whereas the bank’s liabilities to its creditors amount to 2.2 billion rubles.

On 2 August 2016, the Court of Arbitration of the city of Moscow ruled to recognise CB BDT (JSC) insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of CB BDT (JSC) 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 procedural decision making.

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19.08.2016 00.00.00