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NBS delicenses Univerzal banka Beograd

Date:  31.01.2014 18:23

Source:  NBS

At its meeting today, the Executive Board of the National Bank of Serbia decided to delicense Univerzal banka a.d. Beograd and to appoint the Deposit Insurance Agency its administrator. 


The Executive Board stated that this move was preceded by a number of activities aimed at bringing the bank's capital and performance ratios in compliance with the Law on Banks.


The bank’s financial condition deteriorated significantly and its critical undercapitalisation came as a threat to liquidity and business continuity.


Given that all criteria for delicensing have been met, as provided by the Law on Banks, the National Bank of Serbia made a decision to revoke the bank’s operating license in order to protect depositors’ interests and to safeguard stability of the financial system. 


Over the next week the Deposit Insurance Agency will take all measures within its scope of competence to ensure payment of insured deposits in accordance with the Law on Deposit Insurance. 


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