IIB has max 3.5 bln rubles liquid assets bar CB loan collateral
MOSCOW. Feb 28 (Interfax) - International Industrial Bank (IIB, Mezhprombank) has no more than 3.5 billion rubles in liquid assets bar collateral on a Central Bank loan, Valery Miroshnikov, deputy head of the Deposit Insurance Agency (DIA), told reporters.
The liquid assets include security for loan of 3 billion rubles to the Sukhoi Design Bureau at with 17% of its shares as security. "These shares have not been valued, but there is this asset. There are also assets worth around 500 million rubles, but all the rest are just toadstools," Miroshnikov said.
The bank itself values its collateral at over 100 billion rubles, but detailed analysis shows this collateral was security for considerably smaller loans, he said.
IIB's liabilities are 82 billion rubles, including 32 billion rubles before the Central Bank. "The liabilities before the Bank of Russia are supposed to be secured by shares in shipyards. It depends how the litigation goes and how much these assets will be bought for," Miroshnikov said.
IIB went into administration on October 5 and it was adjudged bankrupt on November 30. The Russian Investigative Committee's Main Moscow Investigative Department has opened a criminal case against International Industrial Bank (IIB) for premeditated bankruptcy.