Central Bank of Russia declared Maykopbank bankrupt

Bankruptcy proceedings launched for a period of one year has begun in relation to Maykopbank. The credit institution, deprived of the license by the regulator on April 2, 2021, was declared insolvent after the lawsuit of the Central Bank. The bank will be ruled by the DIA state corporation until September 8, 2022.

We should remind our readers that in April, the regulator punished Maykopbank JSC with the revocation of its license, having accused the management of the organization of artificial raising of financial results. The company overestimated the value of the property and underestimated the necessary provisions for outstanding loans.

Multiple restrictive measures that the Bank of Russia applied to Maykopbank over the past year have overflowed the cup of patience.

The attempt of the credit institution to appeal against the filed claim to revoke the license necessary for the bank's operation did not bring any success. Despite the more than 30-year history of the organization's existence (Maikopbank was founded in 1990), it was decided to remove the regional bank from the financial market.

According to open data, the authorized capital of the bank was 29.4 million rubles. The company's shares were owned by 69 individuals from Russia and a number of organizations in Adygea. In particular, the major shareholder of the bank was Zarem company (its share was almost 20%), as well as Maikop Machine Building Plant (17%) and several other companies.

It is known that last year, the credit institution showed losses in the amount of 4.7 million rubles. The financial capital of the organization was 311 million rubles at the end of 2020 , and the bank's net assets reached 2 billion rubles. In terms of assets, Maykopbank ranked 354th in March 2021.