OREANDA-NEWS. The provisional administration of JSC EuroAxis Bank appointed by Bank of Russia Order No. OD-1666, dated 27 May 2016, following revocation of its banking licence detected in the course of examination of the bank’s financial standing operations which bear the evidence of moving out assets through extending loans worth about 930 million rubles to organisations with dubious solvency and through replacing highly liquid securities with loan liabilities of companies with unknown solvency totally amounting to 228 million in ruble equivalent.

According to estimates by the provisional administration, the asset value of JSC EuroAxis Bank does not exceed 423 million rubles, while its liabilities to creditors amount to 1,134 million rubles.

On 31 August 2016, the Court of Arbitration of the city of Moscow took a decision to recognise JSC EuroAxis Bank insolvent (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 EuroAxis Bank 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.