Results of inspection of financial standing of К2 Bank (JSC) held by provisional administration
The provisional administration to manage К2 Bank (JSC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-2277, dated 31 August 2018, following the banking licence revocation, in the course of its inspection of the Bank’s financial standing established signs suggesting that the Bank’s executives conducted operations aimed at siphoning off assets by purchasing low-quality securities and extending bank guarantees to legal entities of dubious creditworthiness or those knowingly unable to meet their liabilities.
On 13 November 2018, the Arbitration Court of the Karachay-Cherkess Republic recognised the Bank as insolvent (bankrupt).
Mr Pavel Epifanov of Union Self-regulated Organisation of Arbitration Managers of the North West has been appointed to act 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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