On results of inspection of financial standing of JSC CB MBR-Bank by provisional administration

The provisional administration of JSC CB MBR-Bank appointed by Bank of Russia Order No. OD-1886, dated 17 June 2016, due to the revocation of its banking licence has found that an essential part of the bank’s loan portfolio presents 650 million rubles’ worth of claims on shell companies invariably incapable of fulfilling their obligations as well as on actually insolvent individuals.

The provisional administration also revealed that the chairman of the board had received till cash in the amount of 60.3 million rubles on condition of accountability a day prior to the revocation of the banking licence and never returned it until now.

According to the provisional administration estimates, the value of JSC CB MBR-Bank assets does not exceed 23.4 million rubles, while its liabilities to creditors amount to 320.1 million rubles.

On 21 September 2016, the Court of Arbitration of the city of Moscow took a decision to recognise JSC CB MBR-Bank 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 JSC CB MBR-Bank 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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08.11.2016 00.00.00