The order issued by the Bank of Russia on June 25, 2008 canceled the banking license held by Universal Bank of Savings, the PR department of the Central Bank of Russia reported. The license was annulled due to a decision adopted by the lending institution’s authorized body to terminate activities as part of liquidation procedures. In line with the data presented by the bank, the lending institution’s assets are sufficient to meet creditor claims. In accordance with Article 62 of the Russian Civil Code and Article 57 of the Federal Law «On Limited Liability Companies» the bank’s owner appointed a liquidation committee.
According to the data from news agency Banki.ru and Interfax-CEA, net assets of Universal Bank of Savings equal Rub 3 bln (367th place in Russia).
