On activities of CJSC Promsberbank
The provisional administration of CJSC Promsberbank appointed by Bank of Russia Order No. OD-702, dated 2 April 2015, due to the revocation of its banking licence as a result of a full loss of capital by the bank, encountered a considerable obstruction to its activity starting the first day of its mandate.
The former management and owners of CJSC Promsberbank failed to pass over to the provisional administration the originals of corporate and retail credit agreements to the total amount of more than 5 billion rubles.
In the course of the inspection held, the provisional administration established that prior to its banking licence revocation the bank had assigned to its affiliated Insurance Company ORANTA, limited liability company, receivables under credit agreements with marketable collateral worth 1.3 billion rubles in exchange for de facto missing securities.
In order to mask the unfair character of acquired receivables, Insurance Company ORANTA (its licence was revoked by Bank of Russia Order No. OD-958, dated 29 April 2014) assigned the receivables of CJSC Promsberbank to another party. As a result, the ultimate creditor is a non-resident company, which is affiliated with the bank’s owners and which, according to the Bank of Russia’s assessment, does not conduct any real business activities.
The examination of the financial standing of CJSC Promsberbank established that the value of its assets did not exceed 1.9 billion rubles, while the value of its liabilities to the creditors totalled 6.1 billion rubles.
In these circumstances, on 9 June 2015, the Moscow Arbitration Court issued a ruling on recognising the Bank insolvent (bankrupt) and on initiating bankruptcy proceedings. The state corporation Deposit Insurance Agency was assigned the receiver.
The Bank of Russia submitted information on the financial transactions bearing the evidence of criminal offence conducted by the former management and owners of CJSC Promsberbank to the General Prosecutor’s Office, Ministry of Internal Affairs, and to the Investigative Committee of the Russian Federation for consideration and procedural decision making.
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