Universal Bank

At its meeting today the CNB Board evaluated the financial situation of Universal banka a.s. The Board stated that the bank was not fulfilling the key indicators of the stabilisation programme and had failed to create sufficient preconditions to meet the goals of this programme successfully. At the same time, the reported level of capital adequacy provides a legal foundation for revoking its banking licence.

On the basis of these facts and with the agreement of the CR Ministry of Finance, the CNB Board decided to expel Universal banka a.s. from the government stabilisation programme and start administrative proceedings to revoke its banking licence. In a preliminary measure, the CNB also banned the bank from accepting deposits from the public, except for deposits for repayment of loans granted by the bank and deposits of persons with a special relation to the bank.

CNB - M. Švehla