OREANDA-NEWS. August 18, 2015. In the course of supervision over the activity of PJSC JSCB UBII, the Bank of Russia revealed considerable unreliability of the bank’s statements presented to the Bank of Russia as they did not reflect its real financial standing and did not consider or partially considered the bank’s failure to meet creditors’ claims.

The Bank of Russia demanded PJSC JSCB UBII twice to provide reliable statements, however the bank failed to meet these demands.

The presenting of reliable statements by PJSC JSCB UBII would have resulted in grounds to revoke the bank’s licence pursuant to Clauses 4 of Part 2 of Article 20 of the Federal Law ‘On Banks and Banking Activities’.

Thus, the management of PJSC JSCB UBII concealed from the supervisory authority the grounds set by Russian legislation for the obligatory revocation of its banking licence that bears the evidence of a criminal offence specified in Article 172.1 of the Criminal Code of the Russian Federation.

By its Order No. OD-1721, dated 21 July 2015, the Bank of Russia revoked the banking licence from PJSC JSCB UBII.

The Bank of Russia has submitted the information on the activity of the management of PJSC JSCB UBII bearing the evidence of a criminal offence to the Investigation Committee of the Russian Federation for consideration and procedural decision making.