Results of inspection of CB Creditinvest Ltd conducted by provisional administration

The provisional administration to manage the credit institution Commercial Bank Creditinvest Ltd (CB Creditinvest Ltd) (hereinafter, the Bank) appointed pursuant to Bank of Russia Order No. OD-2610, dated 15 November 2019, following the revocation from the Bank of its banking licence, carried out an inspection at the Bank and revealed retail lending operations having signs of misappropriation of funds and abuse of power by the Bank’s officials, as well as a cash shortage in the Bank’s cash office.

The Bank of Russia submitted the information on the financial transactions suspected of being criminal offences that had been conducted by the Bank’s officials to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

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