On results of inspection of financial standing of CB ROSAVTOBANK LLC 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-767, dated 4 March 2016, due to the revocation of the banking licence of CB ROSAVTOBANK LLC revealed operations conducted by the bank’s former management bearing the evidence of moving out assets in the total amount of more than 2.6 billion rubles through lending to borrowers with dubious creditworthiness.

In addition, when the bank experienced solvency problems, it carried out operations bearing evidence of preferential honouring of liabilities to certain creditors to the prejudice of others.

According to the estimate by the provisional administration, the assets of CB ROSAVTOBANK LLC do not exceed 3.3 billion rubles, whereas the bank’s liabilities to its creditors amount to 6.7 billion rubles.

On 18 May 2016, the Court of Arbitration of the city of Moscow ruled to recognise CB ROSAVTOBANK LLC 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 ROSAVTOBANK LLC 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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24.08.2016 00.00.00