On results of inspection of financial standing of BaikalBank PJSC by provisional administration

The management of BaikalBank PJSC failed to provide original credit contracts worth approximately 1.4 billion rubles to the provisional administration appointed by Bank of Russia Order No. OD-2676, dated 18 August 2016, following the revocation of the banking licence.

During the inspection of the bank’s financial standing the provisional administration has also revealed the operations conducted by its management, owners and officials, which bear evidence of moving out liquid assets in the amount of over 4.2 billion rubles.

According to the provisional administration estimates, the value of BaikalBank PJSC assets does not exceed 2 billion rubles, while its liabilities to creditors amount to 8.2 billion rubles, of which 7.1 billion rubles are liabilities to individuals.

On 24 October 2016, the Court of Arbitration of the Republic of Buryatia made a ruling to recognise BaikalBank PJSC as bankrupt with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on financial operations bearing evidence of criminal offences of the bank’s 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.

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

08.12.2016 00.00.00