On results of inspection of financial standing of JSCB Krylovsky (JSC) held by provisional administration

The provisional administration to manage Joint Stock Commercial Bank Krylovsky, further referred to as the Bank, appointed by Bank of Russia Order No. ОD-2191, dated 2 August 2017 following licence revocation, based on the Bank’s financial statements obtained from the Bank’s former management and owners, established that in the run-up to the licence revocation the Bank balance was corrected to show a total of 7.3 billion rubles of cash-in-hand shortage at the Moscow branch divisions.

The provisional administration further found in the course of its inspection that the Bank conducted a number of transactions involving third parties’ promissory notes and securities which made no economic sense and were intended to siphon off funds from the bank.

According to the estimate by the provisional administration, the bank’s assets do not exceed 0.7 million rubles, whereas liabilities to its creditors amount to 8.7 billion rubles.

The Bank of Russia submitted the information on the revealed facts bearing 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 the Investigative Committee of the Russian Federation for consideration and procedural decision making.

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25.09.2017 00.00.00