Bank Severnaya Kazna pays off 1.49bn

Bank Severnaya Kazna (the asset of Alfa-Bank) paid back to Deposit Insurance Agency State Corporation nearly 1.5 billion RUR spent on the bank’s financial recovery. Within this sum, 1 billion RUR constitutes the main debt and 0.49 billion RUR makes up the interest, the spokesperson for Deposit Insurance Agency informed UrBC.

All in all, about 7.8 billion RUR was spent in the effort to save the bank from collapsing. Bank Severnaya Kazna found itself on the brink of bankruptcy at the end of 2008 and was unable to restore its liquidity level independently. As a result, the bank got a new owner, with all its assets handed over to Alfa-Bank.

According to the spokesperson for Deposit Insurance Agency, the bank’s financial recovery procedure is being implemented in accordance with the agency’s bankruptcy-preventing plan.

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