MIL OSI – Source: Central Bank of the Russian Federation in English – Press Release/Statement
Headline: On results of inspection of financial standing of CB PRISCO CAPITAL BANK, JSC by provisional administration (8/31/2016)
The provisional administration of CB PRISCO CAPITAL BANK, JSC appointed by Bank of Russia Order No. OD-2080, dated 29 June 2016, following revocation of its banking licence detected in the course of examination of the credit institution’s financial standing operations carried out by the bank’s former management which bear the evidence of moving out assets also through extending loans known to be unrecoverable to borrowers with dubious solvency and through performing claim assignment deals with credit institution’s related entities.
According to estimates by the provisional administration, the asset value of CB PRISCO CAPITAL BANK, JSC does not exceed 0.6 billion rubles, while its liabilities to creditors amount to 2.3 billion rubles.
On 8 August 2016, the Court of Arbitration of the city of Moscow took a decision to recognise CB PRISCO CAPITAL BANK, JSC insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.
The Bank of Russia has submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of CB PRISCO CAPITAL BANK, JSC 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.