On results of inspection of financial standing of Joint-stock Company ANKOR BANK OF SAVINGS (JSC) held by provisional administration

The provisional administration to manage Joint-stock Company ANKOR BANK OF SAVINGS (JSC), appointed by Bank of Russia Order No. OD-551, dated 3 March 2017, following the revocation of its banking licence, in the course of examination of the bank’s financial standing has established low quality of the bank’s loan portfolio, which comes as a result of loans having been issued to companies with dubious solvency and unable to meet their obligations, as well as to corporate borrowers which are shell companies.

Beyond that, in the period before the licence was revoked, the bank’s management had conducted a number of security operations which bear the evidence of siphoning off of assets or were meant to conceal assets previously siphoned off.

According to the estimate by the provisional administration, the credit institution’s assets total less than 2.9 billion rubles, whereas the bank’s liabilities to its creditors amount to 6.5 billion rubles.

On 10 April 2017, the Court of Arbitration of the Republic of Tatarstan ruled to recognise Joint-stock Company ANKOR BANK OF SAVINGS as insolvent (bankrupt) and initiate bankruptcy proceedings. The State Corporation Deposit Insurance Agency was 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 Joint-stock Company ANKOR BANK OF SAVINGS 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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26.06.2017 00.00.00