Sverdlovsk Region Court of Arbitration declared Bank VEFK Ural insolvent, so the bank is now to undergo bankruptcy proceedings. The claim against the bank was originally placed by the Bank of Russia’s Sverdlovsk Region division. Bank VEFK Ural’s license was revoked on February 19, 2009, so the customers started getting their deposit compensations on March 5, 2009.

URSA Bank has recently introduced the new interest rates on legal entities’ ruble deposits. The rates were increased by 3.5% on average. The bank’s Universal deposit, for instance, provides for 12.5% a year if you deposit your money for half a year, for 13.5% a year for a twelve-month period, and for 15% a year if you place your money with the bank for more than a year. All in all, URSA Bank’s deposit periods range from three days to several years. A business customer is required to deposit at least 500,000 RUR or the equivalent sum in foreign currency. ‘We understand how important it is for

Sinara Group’s Ural Railway Machine-Building Plant’s net profit plummeted by 29.363 million RUR, or 192% in the last quarter of 2008, that is, from 1.296 million RUR in the third quarter of the year to -14.067 million RUR in the last one. The enterprise reports this drop has to do with the increase in the outgoings (not sales-related ones) because of the growing U.S. dollar exchange rate and their foreign exchange loan thus becoming much costlier.

Bank Russkiy Standart’s Board of Directors decided in the course of a recent meeting that the bank’s Yekaterinburg representation (located at 50D Lenin Ave.) should be closed down. As a matter of fact, the bank has also had to do away with its representations in Alapayevsk, Kachkanar, and Pervouralsk since the beginning of the year.