Results of provisional administration-conducted inspection of financial standing of CB Central European Bank LLC

The provisional administration to manage the credit institution CB Central European Bank LLC (hereinafter, the Bank), appointed by Bank of Russia Order No. OD-2215, dated 24 August 2018, following the revocation of the banking licence, in the course of examination of the Bank’s financial standing, has revealed operations towards siphoning off of assets by extending loans to borrowers with dubious solvency or unable to meet their liabilities, totalling no less than 1.9 billion rubles.

The provisional administration estimates the value of the Bank’s assets to be no more than 664 million rubles, vs 915 million rubles of its liabilities to creditors.

On 30 November 2018, the Arbitration Court of the Trans-Baikal Territory 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.

The reference to the Press Service is mandatory if you intend to use this material.