On the results of the provisional administration-conducted financial assessment of JSCB Bankirsky Dom JSC

The provisional administration to manage Joint-stock Commercial Bank Bankirsky Dom, Joint-stock Company (further — the Bank) as appointed by Bank of Russia Order No. OD-727, dated 3 March 2016, following banking licence revocation, has been faced up with obstruction since day one of its operations.

In defiance of the RF legislation, the Bank executives failed to submit to the provisional administration original copies of title documents for the Bank’s real estate assets; neither submitted were original loan agreements worth of approximately 1.4 billion rubles.

Furthermore, the provisional administration confirmed the shortage of cash to a total of 1.4 billion rubles, a fact established in the course of the Bank of Russia-conducted inspection visit to the Bank.

The provisional administration estimates the value of the Bank assets to be not more than 0.4 billion rubles, vers. 3.2 billion rubles of its liabilities to creditors.

On 22 April 2016, the Arbitration Court of the City of Saint-Petersburg and the Leningrad Region recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. The State Corporation Deposit Insurance Agency was approved to act as its bankruptcy receiver.

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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28.06.2016 00.00.00