On results of inspection of financial standing of Joint-stock Commercial Bank MIR (JSC)

During the examination of financial standing of the credit institution, the provisional administration appointed by Bank of Russia Order No. OD-4615, dated 19 December 2016, due to the revocation of the banking licence of Commercial Bank MIR (JSC), revealed operations, conducted by the credit institution’s former management, bearing the evidence of siphoning off of assets by, among other things, extending intentionally bad loans to borrowers with dubious solvency and corporate borrowers bearing the marks of shell companies.

The provisional administration further established that more than 1.9 billion rubles were siphoned off, disguised as cash placed on a non-resident bank’s account.

The provisional administration estimates the value of the Bank assets to total 211.1 million rubles, vers. 1600.4 million of its liabilities to creditors.

On 17 April 2017, the Court of Arbitration of the City of Moscow ruled to recognise the Bank as insolvent (bankrupt) and initiate bankruptcy proceedings. The State Corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on the operations performed by Commercial Bank MIR’s former management and owners’ transactions which bear the evidence of criminal offence to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and Russian Investigative Committee for consideration and procedural decision making.

The reference to the Press Service is mandatory if you intend to use this material.

01.06.2017 00.00.00