Results of provisional administration-conducted inspection of JSC CB Zlatkombank

The provisional administration to manage the credit institution JSC CB Zlatkombank (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-3126, dated 6 December 2018, following the banking licence revocation, in the course of its inspection of the Bank’s financial standing established that the Bank’s executives had conducted operations to divert assets by misappropriating cash funds, selling securities, and transferring funds to a company unable to meet its liabilities.

The provisional administration estimates the value of the Bank’s assets to be no more than 622 million rubles, vs 942 million rubles of its liabilities to creditors.

On 25 January 2019, the Bank of Russia applied to the Court of Arbitration of Moscow to declare the Bank insolvent (bankrupt). The hearing is scheduled for 11 March 2019.

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.

The reference to the Press Service is mandatory if you intend to use this material.