NBS revokes Univerzal Banka's operating license

The National Bank of Serbia (NBS) Executive Board has decided to revokethe operating license of Univerzal Banka (bank).

Izvor: Tanjug

Monday, 03.02.2014.

10:02

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NBS revokes Univerzal Banka's operating license

It has been ascertained that the financial standing of the bank deteriorated significantly, and that the bank became critically undercapitalized, so the liquidity and continuity of the bank's business operations were put at risk.

Taking into account that all conditions have been met for revoking the operating license, in line with the Law on Banks, the NBS delivered the decision on Friday in the interest of depositors, and in an effort to ensure the stability of the financial system.

The Executive Board noted that the operating license revocation was preceded by long-term activities aimed at making the bank harmonize its operations with provisions of the Law on Banks in the part that refers to the capital and business indicators.

In the next week, the Agency for Deposit Insurance will take all activities within its competence to pay out the insured deposits in line with the Law on Deposit Insurance.

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