On the findings of the provisional administration-conducted financial assessment of CB Unifin JSC

The provisional administration to manage CB Unifin JSC (further — the Bank) as appointed by Bank of Russia Order No. OD-524, dated 15 February 2016, following banking licence revocation, in the course of its financial assessment of this credit institution, revealed the former bank executives-performed transactions which are indicative of asset siphoning off through substituting highly liquid loan debt with receivables from companies with dubious solvency, to a total of 1 billion rubles.

Concurrently, at the time the Bank was actually insolvent, transactions were being made to meet liabilities to certain creditors, as a matter of preference above and to the detriment of others, to a total of 0.2 billion rubles.

The provisional administration estimates the value of the Bank assets to be not more than 4.6 billion rubles, vers. 9 billion rubles of its liabilities to creditors.

On 22 June 2016, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. The State Corporation Deposit Insurance Agency was approved to act as its bankruptcy supervisor.

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.

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23.06.2016 00.00.00