Activity of provisional administration of bank Megapolice Ltd

The provisional administration¹ to manage the credit institution commercial bank Megapolice Ltd, or bank Megapolice Ltd (hereinafter, the Bank) in the course of its inspection of the Bank established the existence of signs suggestive of the Bank’s operations to withdraw assets through the assignment of receivables on outstanding loans and lending to borrowers with dubious solvency.

According to the assessment by the provisional administration, the value of the Bank’s assets is insufficient to fulfil its obligations to creditors.

On 7 June 2021, the Arbitration Court of the Chuvash Republic — Chuvashia recognised the Bank as insolvent (bankrupt).

As the Bank of Russia reasonably presumes that the Bank’s officials were engaged in financial operations suggestive of criminal offence, the Bank of Russia submitted relevant information to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

 ¹ The provisional administration to manage the credit institution was appointed by Bank of Russia Order No. OD-475, dated 26 March 2021, from 26 March 2021.

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26.08.2021 17.00.00