CENTRAL BANK OF RUSSIA IS DRIVING MAYKOPBANK TO BANKRUPTCY

On April 23, the Commercial Court of Adygea received a claim from the Central Bank of Russia, in which the regulator asked to declare Maykopbank JSC insolvent. The organization lost its license on April 2. The official reason for this was violations of the law and the presence of distressed assets. So far, the application of the Central Bank of the Russian Federation has not yet been accepted by the court.

Maikopbank was 321st in the rating of the credit institutions in terms of assets. The bank has existed since December 1990 for more than 30 years. As of early March 2021, the bank was owned 14 shareholders, four of whom represent one family.

Last year, the bank's relations with the regulator were complicated, as the Central Bank often recorded violations of regulations by the management of Maykopbank and introduced restrictive measures. It turned out that the company was trying to artificially inflate its financial performance. For this purpose, the bank understated the amount of reserves that are formed in case of possible losses on loans, overstating the value of the property at the same time.

If the court accepts the application of the Central Bank of the Russian Federation for consideration and begins the bankruptcy of the credit institution (and the probability of this is very high), the Deposit insurance agency will become the bankruptcy manager. Now the state corporation has been invited to the case as a third party.

DIA began to carry out insurance payments on deposits as early as April 13th. The amount of insurance compensation is 937 million rubles. According to the organization's estimates, about 5 thousand individuals and 154 organizations will be able to receive their money. Thus, almost 99% of depositors will be able to fully return the money kept in deposits. VTB and Rosselkhozbank act as agent banks for payments.

Former clients of Maykopbank were distributed among credit institutions depending on their place of residence (for individuals) or place of registration (for organizations).