On results of inspection of financial standing of credit institution OJSC JSCB Master-Capital by provisional administration

The provisional administration to manage the credit institution OJSC JSCB Master-Capital (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-426, dated 20.02.2017, due to the revocation of its banking licence, in the course of examination of the Bank’s financial standing has revealed actions, bearing the evidence of theft of the Bank’s property or of masking previous operations aimed at withdrawal of its assets by issuing loans to borrowers, which are affiliated with the Bank’s owners, have dubious creditworthiness and which are not engaged in real business activity, resulting in over 2 billion rubles of financial damage.

The provisional administration estimates the value of the Bank’s assets to be not more than 1.5 billion rubles, whereas its liabilities to creditors exceed 2.5 billion.

On 31.05.2018, the Arbitration Court of the City of Moscow recognised the Bank as bankrupt. The State Corporation Deposit Insurance Agency was 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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