20.04.2016, 12:38
On Results of Inspection of Financial Standing of BANK ITB (JSC)
OREANDA-NEWS. During the inspection of financial standing of the credit institution, the provisional administration of BANK ITB (JSC) appointed by Bank of Russia Order No. OD-2659, dated 6 October 2015, due to the revocation of its banking licence, revealed that the value of assets of the bank does not exceed RUB 3 billion, while the liabilities to creditors amount to RUB 4.4 billion.
The provisional administration determined that the main reason for the bank's lack of property to perform its obligations towards creditors is asset diversion by conscious granting of non-performing loans for a total of RUB 2.5 billion rubles and signing assignment agreements, thus replacing loans provided to individuals with illiquid assets in the amount of RUB 651 million. In addition, it was discovered that prior to the revocation of the licence marketable securities (OFZs) worth over RUB 250 million were exchanged for the shares of a company, solvency of which is questionable.
On 25 January 2016, the Court of Arbitration of the city of Moscow ruled to recognise BANK ITB (JSC) insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency 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 BANK ITB (JSC) 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 provisional administration determined that the main reason for the bank's lack of property to perform its obligations towards creditors is asset diversion by conscious granting of non-performing loans for a total of RUB 2.5 billion rubles and signing assignment agreements, thus replacing loans provided to individuals with illiquid assets in the amount of RUB 651 million. In addition, it was discovered that prior to the revocation of the licence marketable securities (OFZs) worth over RUB 250 million were exchanged for the shares of a company, solvency of which is questionable.
On 25 January 2016, the Court of Arbitration of the city of Moscow ruled to recognise BANK ITB (JSC) insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency 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 BANK ITB (JSC) 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.
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