On results of inspection of financial standing of Vladprombank LLC held by provisional administration

During the examination of financial standing of the credit institution, the provisional administration appointed by Bank of Russia Order No. OD-1141, dated 28 April 2017, from 28 April 2017 due to the revocation of the banking licence of Vladprombank LLC, 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 estimates the value of the Bank assets to total under 1.8 billion rubles, vers. 5.0 billion of its liabilities to creditors.

On 29 June 2017, the Court of Arbitration of the Vladimir Region 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 former management and owners of Vladprombank LLC 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 Investigative Committee of the Russian Federation for consideration and procedural decision making.

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07.08.2017 00.00.00