On results of inspection of financial standing of Commercial Bank NKB Limited Liability Company

The provisional administration to manage Commercial Bank NKB Limited Liability Company (further — the Bank) as appointed by Bank of Russia Order No. OD-4841, dated 29 December 2016, following banking licence revocation, has audited cash and valuables on hand and established over 1 billion rubles of shortage.

Furthermore, in the course of examination of the bank’s financial standing the provisional administration has found a number of transactions to be indicative of the intention to siphon off liquid assets by buying bad debt on loans extended to individuals.

The provisional administration estimates the value of the Bank assets to be under 0.1 billion rubles, whereas its liabilities to creditors amount to 1.2 billion rubles, including 0.9 billion rubles to individuals.

On 17 April 2017, the Arbitration Court of the City of Moscow recognised the bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the former management and owners of the Bank 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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