On Results of Inspection of Financial Standing of CB KBR BANK
OREANDA-NEWS. The provisional administration of CB KBR BANK LLC appointed by Bank of Russia Order No. OD-3593, dated 14 December 2015, due to the revocation of its banking licence, encountered an obstruction of its activity starting the first day of performing its functions.
The management of CB KBR BANK LLC failed to submit to the provisional administration agreements on loans recorded in the bank’s balance sheet in the total amount of about 1.2 billion rubles, which may point to an attempt to divert assets from the bank.
The provisional administration revealed that before the licence revocation the bank issued loans to legal entities and households in the amount over 500 million rubles, meanwhile the bank lacks any documents which allow assessing the borrowers’ financial standing.
According to the provisional administration’s estimates, the value of assets of CB KBR BANK LLC does not exceed 78 million rubles, while it liabilities to creditors amount to 1,158 million rubles.
On 19 February 2016, the Court of Arbitration of the city of Moscow adjudicated to recognise CB KBR BANK LLC as insolvent (bankrupt) and to initiate bankruptcy proceedings. The state corporation Deposit Insurance Agency was appointed as a receiver.
The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of CB KBR BANK LLC to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigation Committee of the Russian Federation for consideration and procedural decision making.