OREANDA-NEWS. The provisional administration of JSC SMARTBANK appointed by Bank of Russia Order No. OD-1014, dated 28 March 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 worth around 4.7 billion rubles through replacing fixed assets with non-liquid securities.

According to estimates by the provisional administration, the asset value of JSC SMARTBANK does not exceed 0.93 billion rubles, while its liabilities to creditors amount to 5.2 billion rubles.

On 24 June 2016, the Court of Arbitration of the city of Moscow took a decision to recognise JSC SMARTBANK (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 JSC SMARTBANK 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.