OREANDA-NEWS. The provisional administration of CB Alta-Bank (CJSC) appointed by Bank of Russia Order No. OD-403, dated 8 February 2016, following revocation of its banking licence detected in the course of assessing the bank’s assets a poor quality of its loan portfolio resulted from extending loans to organisations not involved in real economic activities.

Besides, the provisional administration in the course of examination of CB Alta-Bank (CJSC) financial standing revealed transactions bearing the evidence of moving out assets worth 0.5 billion rubles through assigning bank depositors’ outstanding loan right (claim) to a dummy company.

According to estimates by the provisional administration, the asset value of CB Alta-Bank (CJSC) does not exceed 5 billion rubles, while its liabilities to creditors amount to 5.5 billion rubles, including liabilities worth 1.8 billion rubles to households.

On 7 April 2016, the Court of Arbitration of the city of Moscow took a decision to recognise CB Alta-Bank (CJSC) insolvent (bankrupt) with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of CB Alta-Bank (CJSC) to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.