SME Bank denies violation of the legislation of the Russian Federation in its activities


MOSCOW, December 25. SME Bank denies violation of the legislation of the Russian Federation in their activities, said in a statement published today the Bank.

“The Prosecutor General’s office was not sent to the Bank or our shareholder published the conclusions or orders to eliminate violations of the law or other information indicating improper performance of SMEs by the Bank of its functions. No facts of violations of the current legislation of the Russian Federation, and also regulations, and orders approved by the Bank’s management bodies, shareholders and the government of the Russian Federation, when checking it wasn’t revealed”, – is spoken in the message of the credit organization.

SME Bank considers published by the state office of public Prosecutor of the Russian Federation information unfounded and unsupported by documents, the statement said.

In a statement, the Bank explained that the critical comments in terms of the specifics of the Bank on a two-tier system, the support of small and medium enterprises (SMEs) in various forms and other matters the Bank had given satisfactory explanations relying parties.
“The Prosecutor General’s office was not sent to the Bank or our shareholder published the conclusions or orders to eliminate violations of the law or other information indicating improper performance of SMEs by the Bank of its functions. No facts of violations of the current legislation of the Russian Federation, and also regulations, and orders approved by the Bank’s management bodies, shareholders and the government of the Russian Federation, while checking have been identified. In this connection, we incorrectly specified the publication of the press release on the website of the Prosecutor General of the Russian Federation”, – stated in a press release.

SME Bank officially declares that it is always in its activities guided by the current legislation and performs its functions in full in the interests of market participants – subjects of small and medium enterprises.

Earlier, Vnesheconombank reported that he had not received from the Prosecutor General’s office documents about the test results of SME Bank, 100% of which passed in trust management of state Corporation on development of small and medium businesses.

The Prosecutor General’s office initiated the audit of a credit institution in connection with the transfer of 100% shares of SME Bank from the Bank in fiduciary management of JSC “Federal Corporation for development of small and medium enterprises”, as well as set by the President of the Russian Federation of the tasks aimed at ensuring the availability of credit resources for small and medium businesses. She showed that the assumption of SME Bank failures have a negative impact on the creation of favorable conditions for business development and do not contribute to improve the access of SMEs to financial support.