Central Bank: banks with licences revoked convicted in withdrawing multi-billion assets

Central Bank: banks with licences revoked convicted in withdrawing multi-billion assets

The Central Bank of the Russian Federation has convicted banks deprived of licenses, including Mostransbank, Credit-Moscow and Promregionbank in dubious operations – they have been withdrawing billions of dollars in assets.

The relevant information has already been submitted to law enforcement authorities.

The Bank of Moscow has monitored the results of activity of the following banks: Promregionbank, Credit-Moscow and Mostransbank. Let us recall that the aforementioned banks has been deprived of licenses this year. The inspection materials reveal that before the banks have their licenses revoked, they had withdrawn several billion of assets. In connection with these facts, the Central Bank has applied to the ICR, the Prosecutor's General Office and the Ministry of Internal Affairs. 

According to the Central Bank, before the license revocation, which occurred on July 22, Credit-Moscow had withdrawn more than 1.8 billion rubles, transferring the right of claim under loan agreements. In addition, the bank had also withdrawn financial assets, resorting to the alienation of real estate belonging to it. Also, shortly before the withdrawal of its license, Credit-Moscow had acquired a number of securities from organizations with questionable solvency. In this case, the size of investments has exceeded 4.3 billion rubles. 

As for Promregionbank, whose license was revoked on May 30 this year, according to the Central Bank, the credit organization had managed to withdraw more than 5.4 billion rubles by giving deliberately non-performing loans to legal entities, as well as exchanging liquid loan indebtedness to rights of claim in respect of companies with questionable solvency. Moreover, this bank had also acquired illiquid securities.

Mostransbank was stripped of its license on May 5 this year. Prior to this, the credit organization had managed to withdraw about 2 billion rubles, using current accounts of the organizations controlled by and associated with the former bank leadership and owners. In addition, the bank had given a number of loans to insolvent borrowers. 

The current size of Credit-Moscow's negative capital amounts to 5.6 billion rubles. At the same time, the bank's total assets make 804 million rubles. Meanwhile, liabilities of the credit organization are 6.4 billion rubles, with 5.2 billion rubles accounting for individuals' deposits. It should be reminded that in July, when the bank's license was revoked, it ranked 280th in terms of existing assets, according to Banki.ru.

Promregionbank has a negative equity in the amount of 5.1 billion rubles. Whereas, the total value of its assets makes about 1.9 billion rubles. Liabilities to creditors are equal to 7 billion rubles, of which 3.7 billion rubles account for deposits of individuals. this credit organization was 346th in Banki.ru ranking in May. 

The size of Mostransbank's liabilities over assets exceeds 2.79 billion rubles. The value of assets is 0.21 billion rubles, and the amount of liabilities – 3 billion rubles, including 2.3 billion rubles of individual deposits. This bank ranked 519th in the May ranking of Banki.ru.

According to the Central Bank, the management of Promregionbank and Credit-Moscow had been interfering with the interim administration; moreover, it had been done by top managers since the first day of their introduction.

For example, the Promregionbank management had failed to provide the interim administration with the originals of loan agreements for a total amount of 2.6 billion rubles. In addition, it had not been given receivables assignment contracts. As for Credit-Moscow, in this case, the management and the owners of the credit institution had failed to provide the interim administration with the originals of credit agreements for more than 640 million rubles.

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