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TASS request, there is shortage of 7.04 billion rubles (117 million dollars) in Yugra Bank's equity, whose license has been revoked.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.
In early November 2017, Basmanny Court of Moscow has satisfied the motion brought by the Main Investigations Directorate in the City of Moscow of the Investigative Committee of the Russian Federation (ICR) and remanded Aleksander Shukyurov, Director of the Capital Renovation Directorate State Budgetary Institution of Moscow, in custody. The head of the institution subordinate to the Department of Capital Renovation of the City of Moscow that had acted as the client in tenders worth dozens of billions of rubles is suspected of swindling on an especially large scale.