OREANDA-NEWS. During the inspection of financial standing of the credit institution, the provisional administration of PJSC AGROINCOMBANK appointed by Bank of Russia Order No. OD-2986, dated 2 November 2015, due to the revocation of its banking licence, revealed operations of the bank's former management bearing evidence of bank assets' diversion by replacing high-quality liquid securities (federal government bonds) by illiquid promissory notes of companies with dubious solvency in the amount, exceeding 75% of the bank's total assets. Furthermore, the originals of the documents with regard to the above transactions to sell the OFZs and buy the promissory notes are unavailable with the bank.

Besides, the cash audit findings established the lack of funds in the amount of more than 19.6 million rubles, US$185.5 thousand, and 18.6 thousand euros. According to the bank cashiers, the money was withdrawn by unidentified individuals as ordered by the bank's management on the date of the revocation of the licence.

According to the estimate by the provisional administration, the assets of PJSC AGROINCOMBANK do not exceed 92.2 million rubles, whereas the bank's liabilities to its creditors amount to 915 million rubles.

On 25 December 2015, the Court of Arbitration of the Astrakhan Region took a decision to recognise PJSC AGROINCOMBANK insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of PJSC AGROINCOMBANK 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.