MOSCOW, February 19. /TASS/. The interim administration appointed by the Central Bank to the International Bank of St. Petersburg (Bank IBSP), which had its license revoked in October 2018, revealed operations aimed at withdrawing assets from the credit institution, the regulator said in a statement.
"The interim administration for the management of the Bank IBSP credit institution during the survey of its financial condition established in the actions of the bank's officials signs of operations aimed at the withdrawal of the bank's assets by transferring the rights of claims to a number of counterparties to its shareholder, as well as the acquisition of illiquid assets," the Central Bank said.
The Central Bank sent information about financial transactions that have the characteristics of criminal acts carried out by bank officials to the Prosecutor General's Office, the Ministry of Internal Affairs of Russia and the Investigative Committee for consideration and adoption of appropriate procedural decisions.
On October 31, the Bank of Russia revoked the banking license of the International Bank of St. Petersburg (IBSP). Earlier, on October 15, 2018, the regulator assigned the DIA the functions of a temporary administration for the management of the IBSP for a period of six months due to the unstable financial situation of the bank. At the same time, a moratorium was imposed on the satisfaction of the creditors of the bank IBSP for a period of three months.
The Central Bank noted that the problems in the bank's activities arose due to the use of a risky business model, as a result of which a significant amount of problem assets was formed on its balance sheet, including derivative financial instruments and unconfirmed (pretended) claims against non-resident companies. At the request of the supervisory authority, the formation of reserves adequate to the accepted risks revealed a complete loss of the bank's own funds (capital).