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Military Industrial Bank

Company

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Russian bank, which worked from 1994 to 2016.

2024: The court arrested the property of the ex-leaders of the VPB bank for 36.9 billion rubles

On March 11, 2024, the Moscow Arbitration Court, at the request of the Deposit Insurance Agency (DIA, bankruptcy trustee), arrested the property of three former leaders of the Moscow Military-Industrial Bank (VPB) - Alexei Nikitin, Elena Slotina and Sergei Novoseltsev - for 36.97 billion rubles each. At the same time, the court satisfied the refusal of the DIA in terms of claims for the arrest of property from another former member of the bank's board, Stanislav Kochurin.

According to Interfax, during the bankruptcy proceedings, the DIA established that the controlling persons of the bank committed unlawful actions or inaction on "the issuance of deliberately bad loans to legal entities, the withdrawal of liquid security for such loans, the free disposal of liquid assets as a result of the conclusion of a sale and purchase agreement and the creation of additional obligations on the side of a credit institution." In addition, theft of funds through illegal banking operations on depositors' accounts was revealed.

The property of three former leaders of the Moscow Military-Industrial Bank was arrested

In the summer of 2017, the DIA announced the discovery of a shortage of VPB property in the amount of 26.5 billion rubles, and in September 2019 filed a lawsuit against the former heads of the bank for 36.96 billion rubles. As a result, apartments and land plots were arrested, as well as the property of former top managers Yuri Koltok and Viktor Druzhkov within 36.96 billion rubles.

At the same time, the court refused the DIA to take security measures against the property of other top managers: Kochurin, Nikitin, Novoseltsev, Slotina, Artur Minasyan, Alexandra Anisimova, Alexander Zinchenko, Marina Alekseeva and Yulia Plokhuta-Plokutina. However, in early July 2022, the Moscow Arbitration Court, at the request of the DIA, arrested property, including cash, Kochurin in the amount of 36.97 billion rubles.[1]

2016

Central Bank demands to increase reserves

Difficulties arose at the Military-Industrial Bank in connection with the signs of unrealistic activities of several of its investment projects[2]

  • The bank invested 1.3 billion rubles in the Ekoklinker plant, which produces import-substituting building materials.
  • The Cheboksary House-Building Plant, which produces reinforced concrete products for the construction of more than 140,000 square meters of housing per year, received 2 billion rubles of loans from VPB.
  • 1.4 billion rubles were invested in the plant for the production of plumbing products "business" and "premium" of the class "SC ceramics."
  • A special pride of the bank is the financing for more than 1 billion rubles of an enterprise for the modernization of aviation complexes (M.A.K LLC), which already produces simulators for the training and retraining of flight personnel of civil and military aviation.
  • The bank co-invested in the construction of the High Larks residential complex in the Moscow Region, investing 3 billion rubles in the project. Some of the apartments in this complex are allocated for mortgages for military personnel.
  • 1.6 billion rubles were invested in the large-scale reconstruction of the asphalt plant in the Moscow region.

The Military-Industrial Bank allegedly directed its investments to the implementation of import substitution programs, to the development of real sectors of the economy, to the creation of works. the Central Bank put forward requirements according to which such investment-loans are classified as high - 3-5 - degrees of risk and require the additional creation of a reserve for loans issued up to 50%.

To comply with this order of the Central Bank, the Military-Industrial Bank had to increase its expenses in 2016 by several billion rubles. A stable large financial institution with an extensive regional network coped with a difficult task. VPB in August registered an increase in the authorized capital by a third to more than 12 billion rubles. But the requirement not to exceed 6.3 billion rubles of funds turnover per month on client accounts actually means a complete shutdown of the bank's activities. After all, the VPB client base has hundreds of thousands of individuals and tens of thousands of legal entities, they will not have enough such a monthly amount for expenses. This created a panic among VPB depositors in early September 2016.

The Central Bank introduces a temporary administration to the bank and later revokes the license

Since September 15, 2016, the Central Bank of the Russian Federation has entrusted the Deposit Insurance Agency (DIA) with the functions of an interim administration for managing the Military-Industrial Bank for a period of six months. The priority task of the interim administration is to conduct a survey of the financial situation of the VPB in order to determine its objective financial situation.

Since September 26, 2016, the Bank of Russia has revoked banking licenses from the Moscow Military Industrial Bank (VPB). The decision to revoke the banking license from VPB Bank, as reported on the official website of the regulator, was made by the Bank of Russia... "due to the credit institution's failure to comply with federal laws regulating banking activities and Bank of Russia regulations, repeated violation of the requirements provided for in Articles 6, 7 (with the exception of paragraph 3 of Article 7) of the Federal Law "On Combating Legalization (laundering) of proceeds from crime and the financing of terrorism, "the value of the standards for the sufficiency of own funds (capital) below two percent, a decrease in the amount of equity (capital) below the minimum value of the authorized capital established at the date of state registration of the credit institution, taking into account the repeated application within one year of measures provided for by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)." "In case of unsatisfactory quality of assets, Bank VPB (JSC) inadequately assessed the risks taken in this regard. A proper assessment of credit risk and an objective reflection of the value of assets in the statements of the credit institution led to the complete loss of its own funds (capital). In addition, the bank did not comply with the requirements of the legislation in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism in terms of timely submission of information to the authorized body, "the Bank of Russia website says.

1994: Establishment of the Bank

Joint-stock Commercial Bank "Military-Industrial Bank" (Closed Joint Stock Company) was entered by the Bank of Russia into the Book of State Registration of Credit Institutions on September 01, 1994.

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