OREANDA-NEWS. The provisional administration of LLC CB CREDO FINANCE appointed by Bank of Russia in the course of examination of the bank’s financial standing the facts of extending loans to borrowers which bear the evidence of moving out the bank’s assets or concealing the facts of already moved out assets.

The provisional administration also found out that prior to the licence cancellation the bank management carried out transactions bearing the evidence of moving out liquid assets worth about 275 million rubles through exchanging marketable securities to promissory notes of companies not involved in real financial and business operations.

According to estimates by the provisional administration, the total asset value of LLC CB CREDO FINANCE does not exceed 89 million rubles, while its liabilities to creditors amount to 95 million rubles.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of LLC CB CREDO FINANCE to the Prosecutor General’s Office, the Ministry of Internal Affairs and the Investigative Committee for consideration and procedural decision making.