Activity of provisional administration to manage JSC KS BANK
The provisional administration1 to manage the credit institution Joint Stock Company KS BANK or JSC KS BANK (hereinafter, the Bank) in the course of its inspection of the Bank established the existence of signs suggestive of assets withdrawal through lending to borrowers with dubious solvency or knowingly unable to fulfil their obligations, as a result of which the incurred damage exceeded 922.4 million rubles.
According to the assessment by the provisional administration, the value of the Bank’s assets is insufficient to fulfil its obligations to creditors.
On 8 November 2021, the Arbitration Court of the Republic of Mordovia recognised the Bank as insolvent (bankrupt).
As the Bank of Russia reasonably presumes that the Bank’s officials and owners were engaged in financial operations suggestive of criminal offence, the Bank of Russia submitted relevant information 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.
1 The provisional administration to manage the credit institution was appointed by Bank of Russia Order No. OD-1650, dated 6 August 2021, from 6 August 2021.
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20.01.2022 17.00.00