Information on OJSC JSCB Stella- Bank

The provisional administration to manage OJSC JSCB Stella- Bank, further referred to as the Bank, as appointed by Bank of Russia Order No. OD-1260, dated 14 April 2016, following banking licence revocation, has been faced up with obstruction of its operations, which is indicative of the attempt to conceal facts of liquid asset misappropriation.

In such a way, the Bank’s former management failed to transfer to the provisional administration original credit reports on individuals as regards 1.9 billion rubles of loans, which are accounted for in the Bank’s balance sheet for the period of large- scale deposit attraction.

Concurrently, as much as 1.6 billion rubles of deposits were accepted in the run-up to the revocation of the Bank’s licence; however, no liabilities to depositors were accounted for. This entailed fake submittals to the Bank of Russia of the Bank’s management data on the Banks’ real liabilities to individuals.

The current efforts of the State Corporation Deposit Insurance Agency jointly with the provisional administration are focused on recovery of missing data on open accounts (deposits) to enable inclusion of such data into the register of the Bank’s liabilities to depositors.

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.

22.06.2016 00.00.00