Russia’s SME Bank says prosecutor charges unjustified

MOSCOW, Dec 25 (PRIME) -- Russia’s SME Bank, a unit of state-owned Vnesheconombank (VEB), believes that claims by the Prosecutor General’s Office are unjustified and not documentarily confirmed, SME Bank’s press office said Friday.

The Prosecutor General’s Office said earlier on Friday that SME Bank was creating preferential conditions while providing loans to a limited circle of representatives of small and medium-sized businesses in Russia.

The prosecutors have not sent any instructions to eliminate violations either to SME Bank or VEB, SME Bank also said.

The Prosecutor General’s Office also proposed dismissing an unspecified VEB deputy CEO that earlier chaired SME Bank’s board of directors.

VEB said it had not received any results of the probe into SME Bank from the prosecutors.

End