SME Bank called the claims of the state office of public Prosecutor unreasonable

Moscow. December 25. SME Bank (subsidiary of Vnesheconombank) considers the comments of the Prosecutor General of the Russian Federation unfounded. Corresponding letter and documents on results of check of the credit organisation has received, reported the press service of the SME Bank.

“Believe published information are unfounded and unsupported by documents. To criticisms in terms of the specifics of the Bank on a two-tier system, the support of small and medium-sized businesses in a variety of forms and other matters the Bank had given satisfactory explanations relying parties”, – said the representative of the press service of the SME Bank.

Earlier, the Prosecutor General’s office conducted an audit of SME Bank, the results showed that the activities of a credit institution to provide financial assistance to small and medium businesses not contributed to the achievement of its statutory objectives to increase access to such resources. Moreover, according to the state office of public Prosecutor, it “was carried out in the interests of profit and increased security of Bank executives high salaries”.

GP raised the question of the removal from office of Deputy Chairman of Vnesheconombank Irina Makieva, who previously headed the Supervisory Board of SME Bank.

The results of the audit prosecutors sent to President Vladimir Putin and Prime Minister Dmitry Medvedev.

According to prosecutors, the interest rates on some Bank loans to SMEs for entrepreneurs to reach 26% per annum. While the credit organization raised funds at rates significantly below market, including the Bank of Russia at 6.5%, and its parent company – Vnesheconombank under 3.55% and 6.25%.

This difference explains GP tiered system of flow of funds to the borrower, each stage of which is the appreciation of credit resources.

“For 2014-2015, only the Chairman of the Board received more than 68 million roubles, the Fund of remuneration of employees of the Bank amounted to about 1.8 billion rubles. The fee for the use of real estate exceeded 500 million rubles”, – stated in the message of the SIP.

SME Bank is a subsidiary of a credit institution Vnesheconombank. As reported, earlier it was planned completion of education Federal development Corporation small and medium enterprise SME Bank and credit guarantee Agency. Check of Russia was conducted in connection with the reorganization.

In the first three quarters of 2015 SME Bank takes 49th place in terms of assets in ranking “Interfax-100” prepared “Interfax-CEA”.