Results of inspection of financial standing of JSCB Mosuralbank (JSC) held by provisional administration

The provisional administration to manage JSCB Mosuralbank (JSC) (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1556, dated 22.06.2018, following the banking licence revocation, in the course of the inspection of the Bank’s financial standing established that the Bank’s management conducted operations to divert funds through extending bank guarantees and loans to affiliated legal entities with dubious creditworthiness or which might knowingly default on their obligations.

The provisional administration estimates the value of the Bank’s assets to be no more than 2.5 billion rubles, whereas its liabilities to creditors exceed 4.2 billion rubles.

On 11 September 2018, the Arbitration Court of the City of Moscow 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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