Central Bank exposes $117mn-shortage in Yugra Bank's equity
Thus, the bank has lost its own funds, the regulator said in a statement.
According to the press release of the Central Bank of Russia, sent in response to TASS request, there is shortage of 7.04 billion rubles (117 million dollars) in Yugra Bank's equity, whose license has been revoked.
It is clarified that the 'hole' was found as a result of adjustments made by the temporary administration in the financial organization's accounting. This amount of negative capital actually means that the bank has lost its own funds. In addition, it was found that as of July 1, the volume of loans granted to borrowers related to business projects of bank owners accounted for almost 90% of the loan portfolio.
Final indicators will be published after the interim administration has completed its work.
To recall, on Friday, July 28, the Central Bank of Russia revoked the license of Yugra Bank. Earlier, the regulator had introduced temporary administration and a moratorium on payments to creditors of the financial institution.
The story with the arrest of Igor Vainshtok, creator of famous bifidok, in absentia and his escape is pretty confusing. The company founded by him still remains the largest probiotics producer in Russia and generates multimillion profits – however, somehow it was declared bankrupt. An international warrant has been issued against Vainshtok for non-payment of salaries – while the businessman calls his prosecution an element of the raiding takeover of his company that was already recognized a raidership victim in the past. Concurrently, employees of Partner Joint Stock Company created by Vainshtok claim that he has stolen not only millions of rubles from the base bank of Roscosmos – but, more importantly, the bifidok inventorship. So, whom has Vainshtok fled from?
According to the head of the state-owned company, the Russian business “rebuilt the country,” “restored the collapsed Soviet enterprises,” “returned the salary to the people,” “filled the budget with money.”