On the findings of the provisional administration-conducted financial assessment of Commercial Bank DS-Bank (LLC)

The provisional administration to manage Commercial Bank DS-Bank (LLC), further referred to as the Bank, as appointed by Bank of Russia Order No. OD-1479, dated 12 May 2016, following banking licence revocation, has faced with obstruction from day one of its operations.

The Bank management, in violation of RF legislation, failed to provide to the provisional administration original loan agreements (with individuals) and the contract of assignment (for loans to legal entities), to the total of over 500 million rubles.

Also, the provisional administration established facts indicative of siphoning off of bank assets through extending fictitious loans to the total of over 580 million rubles.

According to the provisional administration’s estimate, the value of the Bank assets is not more than 92.1 million rubles, vers. 746.4 million rubles of its liabilities to creditors.

On 2 September 2016, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. Mr Nikolay A. Petrov, a member of the Self-regulatory Organisation of Receivers, 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.

The reference to the Press Service is mandatory if you intend to use this material.

21.09.2016 00.00.00