Source: Central Bank of the Russian Federation in English
On results of provisional administration-conducted inspection of financial standing of CB Confidence Bank LLC
The provisional administration of CB Confidence Bank LLC (hereinafter, the Bank), appointed by Bank of Russia Order No. OD-937, dated 13.04.2018, due to the revocation of its banking licence, in the course of examination of the Bank’s financial standing revealed that the Bank’s management and owners had executed transactions aimed at siphoning off assets by issuing loans to borrowers, including companies affiliated with the owners, with dubious solvency and not engaged in real business activities.
The provisional administration estimates the value of the Bank’s assets to be no more than 3.2 billion rubles, whereas its liabilities to creditors exceed 4.5 billion rubles.
On 13.07.2018, the Arbitration Court of the Kostroma Region recognised the Bank as bankrupt. The state corporation Deposit Insurance Agency was appointed as a receiver.
The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the Bank’s executives 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.
06 August 2018
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