Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

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www.cbr.ru

Information Notice

Results of provisional administration-conducted inspection of financial standing of ROSCOMSNABBANK (PJSC)

The provisional administration to manage ROSCOMSNABBANK (PJSC) (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-475, dated 7 March 2019, following the banking licence revocation, in the course of the inspection of the Bank established that the Bank’s officials conducted operations to divert funds through lending to borrowers incapable of meeting their obligations.

The provisional administration estimates the value of the Bank’s assets to equal 4.4 billion rubles, whereas its liabilities to creditors stand at 23.1 billion rubles.

On 27 March 2019, the Bank of Russia applied to the Court of Arbitration of the Republic of Bashkortostan to declare the Bank insolvent (bankrupt). The hearing is scheduled for 3 June 2019.

The Bank of Russia submitted the information on the financial transactions suggestive of criminal offence conducted by the Bank’s executives 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.

21 May 2019

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