Results of inspection of financial standing of JSC CB RUBLEV held by provisional administration

The provisional administration to manage JSC CB RUBLEV (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1595, dated 27.06.2018, following the banking licence revocation, in the course of the inspection of the Bank’s financial standing established that the Bank’s management conducted operations to divert funds through lending to borrowers with dubious creditworthiness or which might knowingly default on their liabilities.

The provisional administration estimates the value of the Bank’s assets to be no more than 3.7 billion rubles, whereas its liabilities to creditors stand at 13 billion rubles.

On 25 September 2018, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the Bank’s executives 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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