Results of inspection of financial standing of Russky Natzionalny Bank held by provisional administration

The provisional administration to manage Ltd. Russky Natzionalny Bank (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1435, dated 6 June 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 affiliated legal entities with dubious creditworthiness or which might knowingly default on their obligations.

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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