Baikalbank

On December 24, 1993, the open joint- stock company BaikalBank joint- stock commercial company was established.

From a small bank with an authorized capital of 300 thousand rubles, step by step, increasing its capital, expanding its client base and the list of services provided to customers, BaikalBank has become one of the largest banks in the Siberian region and has firmly taken its place in the banking system of the republic. It was the only independent commercial bank of the Republic of Buryatia. In addition, the bank was a member of the Association of Russian Banks , the Moscow Interbank Currency Exchange , the Siberian Interbank Currency Exchange, a participant in the Golden Crown payment system, and a member of Western Union and Anelik money transfer payment systems.

In December 2006, Ulan-Ude was shocked by the false news of the imminent bankruptcy of Baikalbank. In a matter of hours, a rumor spread throughout the city and the population rushed to withdraw cash from all branches of the bank. So, on December 11, the population withdrew 45 million rubles, and on December 12 it was already 60 million rubles, with a norm of 16-17 million per day ^[1] . Over the entire period of hype at the ATMs, huge lines of people formed who took off all available cash, which further sparked a panic among holders and depositors. Panicked people began to conduct non-cash transactions: they transferred large amounts to the balance of mobile phones, paid in advance the services of the Internet, landlines, housing and communal services, television, etc.

The board of the bank urgently had to send a message to all the media that the bankruptcy of the bank was false information and did not correspond to reality. According to the first deputy chairman of the board of BaikalBank Galina Tsybikmitova, the hype was provoked. Unknown people made phone calls, distributed anonymous leaflets and personalized letters alleging the imminent bankruptcy of the bank. These and other materials testifying to the actions of the attackers were transferred to law enforcement agencies - the prosecutor's office, the Ministry of Internal Affairs and the FSB. The excitement, which began rapidly, slept just as quickly in a few days.

On April 26, 2016, in the afternoon, the hype began, in many respects similar to the situation almost 10 years ago. Like 10 years ago, queues accumulated at ATMs, and people withdrew all the cash. The stores did not accept bank cards. According to Ulan-Ude, rumors spread both about the revocation of the license of the Central Bank of the Russian Federation and about the imminent bankruptcy of the bank. The bank itself justified this by a technical malfunction, which will soon be resolved.

In April 2016, after the Central Bank of the Russian Federation submitted a request for additional reserves, the bank’s shareholders initiated an investigation into the bank’s work, which resulted in the resignation of the then Chairman of the Board of Baikalbank Vadim Egorov ^[2] . He was charged with a dubious deal with Sudostroitelny Bank bills, which paid for the purchase of premises for the bank’s office from Kredo, to which these premises did not belong. Subsequently, Vadim Yegorov, the bank’s shareholders, filed other claims regarding the conduct of business, in particular, obtaining loans for dummy borrowers without their knowledge and arranging collateral for property not on the bank itself, but on third parties ^[2] . In an interview with InformPolis-online, former adviser to Vadim Egorov, Sergei Berezin, confirmed ^[3] these allegations.

Bank of Russia Order No. OD-2675 dated August 18, 2016 revoked the license for banking operations with the BaikalBank (public joint-stock company) BaikalBank (PJSC) credit institution (reg. No. 2632, Ulan-Ude) from 08/18/2016.

The decision to apply an extreme measure of influence - revoking a banking license - was made by the Bank of Russia in connection with the credit institution’s failure to comply with federal laws governing banking activities, as well as Bank of Russia regulations, with a capital adequacy ratio of less than two percent, a decrease the amount of equity (capital) below the minimum value of the authorized capital established at the date of state registration of a credit institution, taking into account repeated application within one year of the measures provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”.

Vitaliy Avdeev, a shareholder of Baikalbank, pointed out ^[4] that the shareholders complied with all the instructions of the Central Bank on raising capital, having managed to raise 2 billion rubles, drew up a financial recovery plan for the bank, which was approved in writing by the Bank of Russia and that it considers the actions of the Central Bank of the Russian Federation relation to Baikalbank. Avdeev said that the owners of the bank will seek restoration of its activities in the courts.

At the meeting of the Arbitration Court of the Republic of Buryatia on October 24, 2016 in case No. A41-5051 / 2016, the operative part of the decision to recognize BaikalBank (public joint-stock company) (BaikalBank (PAO)), registered at the address: 670034, Republic of Buryatia, Ulan, was announced -Ude, st. Krasnoarmeyskaya, 28, OGRN 1020300003460, TIN 0323045986, the address used for information disclosure is www.asv.org.ru, insolvent (bankrupt). ^[five]