Results of inspection of financial standing of JSC Bank Voronezh held by provisional administration
The provisional administration to manage the credit institution JSC Bank Voronezh (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1481, dated 15 June 2018, following banking licence revocation, in the course of the inspection of the Bank’s financial standing identified operations by the Bank executives to divert assets through replacement of highly liquid assets with non-liquid securities issued by a non-resident and outstanding loans of legal entities with dubious creditworthiness, resulting in over 1.5 billion rubles of damage incurred by the Bank.
The provisional administration estimates the value of the Bank’s assets to be no more than 1.4 billion rubles, whereas its liabilities to creditors stand at 5.1 billion.
On 30 August 2018, the Arbitration Court of the Voronezh Region 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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