MIL-OSI EU-Baltics: On results of inspection of financial standing of Bank Ussury JSC held by provisional administration (02.08.2018)

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Source: Central Bank of the Russian Federation in English

Information Notice
On results of inspection of financial standing of Bank Ussury JSC held by provisional administration
The provisional administration to manage Bank Ussury JSC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1327, dated 25.05.2018, due to the revocation of its banking licence, in the course of examination of the Bank’s financial standing has revealed operations aimed at siphoning off the Bank’s assets through assignment of credit claims to a legal entity with dubious creditworthiness and issuing loans to the counterparty to settle liabilities as well as through the disposal of real estate property with deferred payment.
The provisional administration estimates the value of the Bank’s assets to be no more than 5 billion rubles, whereas its liabilities exceed 5.3 billion rubles.
On 19.06.2018, the Bank of Russia submitted a claim to the Court of Arbitration of the Khabarovsk Territory to declare the bank bankrupt. The hearing is scheduled for 16.08.2018.
The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the former management and owners of the Bank 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.

02 August 2018
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