Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

Information Notice

Results of provisional administration-conducted inspection of CB Russian Mortgage Bank LLC

The provisional administration to manage CB Russian Mortgage Bank LLC (hereinafter, the Bank) as appointed by Bank of Russia Order No. OD-3034, dated 23 November 2018, following the banking licence revocation, conducted an investigation of the Bank’s financial standing and identified operations aimed at siphoning off assets by purchasing illiquid securities.

According to preliminary estimates, the value of the Bank’s assets is no more than 7.8 billion rubles whereas its liabilities to creditors stand at 9.6 billion rubles.

The Bank of Russia submitted a claim to the Moscow Court of Arbitration to declare the Bank insolvent (bankrupt). The hearing is scheduled for 20 March 2019.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the Bank’s executives 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.

14 March 2019

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