On results of provisional administration-conducted inspection of financial standing of UFC Bank PJSC
The provisional administration to manage UFC Bank PJSC (further referred to as the Bank) as appointed by Bank of Russia Order No. OD-954, dated 16.04.2018, following banking licence revocation, revealed operations aimed at withdrawal of the Bank’s assets through lending to companies affiliated with the Bank’s owners of dubious creditworthiness. Such actions resulted in more than 8 billion rubles of financial damage.
Furthermore, the provisional administration has established that the Bank’s officials performed actions aimed at asset withdrawal through the issue of bank guarantees to companies (including those managed by the Bank’s officers) inflicting up to 3.3 billion rubles of financial damage, and through the conclusion of factoring agreements with companies affiliated with the Bank’s owners.
The provisional administration estimates the value of the Bank’s assets to be no more than 11.3 billion rubles, whereas its liabilities to creditors exceed 28.7 billion rubles.
On 06.08.2018, 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 and owners 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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