On results of inspection of financial standing of JSCB Mostransbank OJSC by provisional administration

The provisional administration of JSCB Mostransbank OJSC appointed by Bank of Russia Order No. OD-1409, dated 5 May 2016, due to the revocation of its banking licence revealed siphoning off the bank’s assets in a total amount of around 2 billion rubles via settlement accounts of companies controlled by and related to the former management and owners of JSCB Mostransbank OJSC as well as by extending loans to borrowers with dubious solvency in the course of the inspection of the bank’s financial standing.

According to the provisional administration estimates, the value of JSCB Mostransbank OJSC assets does not exceed 0.21 billion rubles, while its liabilities to creditors amount to 3 billion rubles, including 2.3 billion rubles to households.

On 28 June 2016, the Court of Arbitration of the city of Moscow took a decision to recognise JSCB Mostransbank OJSC insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia has submitted the information on financial operations bearing evidence of criminal offences of JSCB Mostransbank OJSC former management and owners to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.

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03.11.2016 00.00.00