On results of inspection of financial standing of Centrcombank LLCby provisional administration

The provisional administration of Centrcombank LLC appointed by Bank of Russia Order No. OD-3257, dated 26 September 2016, following the revocation of its banking licence found out in the course of examination of the bank’s financial standing a poor quality of its loan portfolio resulting from extending loans to companies not involved in real economic activities worth over 2.3 billion rubles.

According to estimates by the provisional administration, the asset value of Centrcombank LLC does not exceed 5.9 billion rubles, while its liabilities to creditors amount to7.5 billion rubles including 7.3 billion rubles to households.

Under these circumstances, on 7 November 2016, the Bank of Russia filed an application to the Court of Arbitration of the city of Moscow to recognise Centrcombank LLC bankrupt.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of Centrcombank LLC to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.

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14.09.2016 00.00.00