Results of provisional administration-conducted inspection of JSC NVKbank

The provisional administration to manage the credit institution JSC NVKbank (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-112, dated 24 January 2020, following the revocation of its banking licence, in the course of its inspection of the credit institution established facts suggesting the intention to divert the Bank’s assets by lending to borrowers with dubious creditworthiness or invariably unable to meet their obligations.

According to the assessment by the provisional administration, the value of the Bank’s assets is insufficient to fulfil its obligations to creditors.

On 19 March 2020, the Arbitration Court of the Saratov Region recognised the Bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as receiver.

The Bank of Russia submitted the information on the financial transactions suspected of being criminal offences that had been conducted by the Bank’s officials to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

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22.04.2020 00.00.00