OREANDA-NEWS. During the examination of financial standing of PJSC Gelendzhik-Bank, the provisional administration appointed by Bank of Russia Order No. OD-1698, dated 17 July 2015, due to the revocation of the banking licence found out that the former management of PJSC Gelendzhik-Bank had carried out transactions bearing the evidence of moving out the assets worth 199.2 million rubles from the bank through extending loans to what looks like dummy companies, as well as through transferring federal loan bonds worth 181.2 million from the bank's accounts with no funds received as payment for this asset.

Besides, on the eve of losing its banking licence, the bank management tried to move out the assets worth about 800 million rubles through signing the compensation for release from obligation under the agreement that was not passed over to the provisional administration.

At the same time, when the enforcement measures were in place with the bank still having a liquidity problem, funds worth over 1.3 billion rubles were taken out from the bank through transactions with own promissory notes.

According to estimates by the provisional administration, the asset value of PJSC Gelendzhik-Bank does not exceed 862 million rubles, while its liabilities to creditors amount to 928 million rubles.

On 17 September 2015, the Court of Arbitration of the Krasnodar Territory took a decision to recognise PJSC Gelendzhik-Bank insolvent (bankrupt) and to 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 PJSC Gelendzhik-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.