Arbitration declared bankrupt, MOSSTROYEKONOMBANK from the group Motylev

The court opened in the credit institution bankruptcy proceedings for a period of one year.

MOSCOW, 19 Oct. The Moscow arbitration court on application of the Bank of Russia declared bankrupt MOSSTROYEKONOMBANK (M Bank), who on 24 July had its license revoked, the correspondent from a court hall.

The court opened in the credit institution bankruptcy proceedings for a period of one year.

CB representative said in court that, on final assessment of provisional administration, the property of the Bank is worth 11.4 billion rubles, while the liabilities amount to 39.6 billion rubles. Thus, there is reason for the recognition of the Bank’s bankruptcy, said Chairman of the Central Bank. The representative of the interim administration confirmed that the “hole” in the capital M of the Bank is estimated at 28.2 billion.

The Central Bank of the Russian Federation from July 24 revoked the licenses of four banks at once, previously controlled by businessman Anatoly Motyleva, — “the Russian loan”, “the Tula industrialist”, M Bank and AMP Bank.

The Central Bank on 1 September reported that according to preliminary estimates the total “hole” in the capital of banks, part of the group, is estimated to be worth more than 100 billion rubles. During the inspection the quality of banks ‘ assets and included in the NPF group, the regulator has established that the intra-group transactions were carried out with the aim of hiding the real financial position of banks and pension funds, and the withdrawal of assets.

The Chairman of the Central Bank Mikhail Sukhov previously reported that, according to the statements M the Bank at 1 July, his obligations were of 18.8 billion rubles.

M Bank is a member of the Deposit insurance system. By total assets, according to the Central Bank, held on July 1, 2015 112-e a place in Russia’s banking system.