Moscow court declares Tempbank bankrupt
MOSCOW, November 16 (RAPSI) – The Moscow Commercial Court has granted a motion of the Russia’s Central Bank seeking to declare Tempbank bankrupt, statement of the Deposit Insurance Agency (DIA) reads.
The Agency was appointed as temporary manager of the bank.
Earlier, the Central Bank stated that Tempbank’s remaining assets are estimated to be as high as nearly 2.3 billion rubles (about $38.3 million) while its debts reach as high as 13.5 billion rubles ($225.3 million).
The Central Bank revoked Tempbank’s license on October 2. According to the regulator, strategy of the bank was oriented towards servicing its owners. Credits for loaners directly or indirectly related to the bank’s beneficiaries led to creation of problematic assets. The bank was deemed illegible of financial restructuring because of its poor condition.