OREANDA-NEWS. By its Order No. OD-2647, dated 30 September 2014, the Bank of Russia revoked the banking licence from ESIDBANK LLC.

Applications received by the Bank of Russia from depositors and creditors of the credit institution bore evidence of concealed records, the management of ESIDBANK LLC did not reflect unmet creditors' claims in the financial statements.

The management of the credit institution failed to meet Bank of Russia requirement on reliable recognising of unmet creditors' claims. As a consequence, the financial statements of ESIDBANK LLC presented to the Bank of Russia did not reflect its real financial standing and did not account (fully account) for the bank's unmet creditors' claims.

Thus, the management of the credit institution deliberately presented incomplete and unreliable information to the Bank of Russia, concealing the evidence of bankruptcy and reasons to revoke the banking licence from the bank.

The Bank of Russia submitted the information on the activity of the management of ESIDBANK LLC bearing the evidence of the criminal offence stipulated in Article 172.1 of the Criminal Code of the Russian Federation to the Investigation Committee of the Russian Federation, the General Prosecutor's Office of the Russian Federation and the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision making.