On results of inspection of financial standing of CB ROSENERGOBANK (JSC) held by provisional administration

The provisional administration to manage the credit institution CB ROSENERGOBANK (JSC) appointed by Bank of Russia Order No. OD-943, dated 10 April 2017, following the revocation of its banking licence, in the course of inspection of the bank’s financial standing has established that the activities of the bank’s former management and owners had the signs of withdrawing assets by issuing loans to borrowers unable to execute their obligations and by making agreements to assign receivables and compensation agreements totalling more than 3.3 billion rubles.

Also, the former bank management has failed to submit to the provisional administration originals of loan agreements and of the mortgage agreement to a total of over 30 billion rubles.

The provisional administration estimates that the value of CB ROSENERGOBANK (JSC) assets does not exceed 12.4 billion rubles, whereas its liabilities to creditors amount to 42.2 billion rubles, including 37.1 billion rubles owed to individuals.

On 29 June 2017, the Arbitration Court of the city of Moscow recognised the bank as insolvent (bankrupt). The State Corporation Deposit Insurance Agency was appointed as a receiver.

The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of Commercial Bank ROSENERGOBANK 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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