OREANDA-NEWS. The provisional administration of PJSC JSCB 1Bank appointed by Bank of Russia following revocation of its banking licence established a poor quality of the bank’s loan portfolio resulted from extending loans to organisations not involved in real economic activities.

According to estimates by the provisional administration, the asset value of PJSC JSCB 1Bank does not exceed 905.9 million rubles, while its liabilities to creditors amount to 1,416.1 million rubles.

On 19 May 2016, the Court of Arbitration of the Republic of North Ossetia — Alania took a decision to recognise PJSC JSCB 1Bank insolvent (bankrupt).

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 PJSC JSCB 1Bank 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.