Results of inspection of financial standing of Joint-stock Company Taatta Bank held by provisional administration

The provisional administration to manage Joint-stock Company Taatta Bank (further referred to as the Bank) appointed by Bank of Russia Order No. OD-1684, dated 5 July 2018, following the banking licence revocation, in the course of its investigation into the Bank’s financial standing established that prior to the banking licence revocation when the credit institution experienced solvency problems the Bank’s management conducted operations aimed at replacement of liquid assets with illiquid ones and at disposal of real estate.

On 21 August 2018, the Arbitration Court of the Republic of Sakha (Yakutia) 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 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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