Alfa-Bank can’t decide Bank Severnaya Kazna’s future
17 February 2010 (09:17)
Alfa-Bank’s top executives still cannot decide what to do with their new asset, Bank Severnaya Kazna, Alfa-Bank’s COO Valeriy Novikov announced in the course of an online conference held by the two banks. The conference was broadcast via Alfa-Bank’s official website.
‘We have to options to choose between: liquidation or a merger. The final decision will be taken by April 1, 2010, this is the deadline stated in the bank’s financial recovery schedule,’ Novikov explained when asked by a reporter.
Yekaterinburg-based Bank Severnaya Kazna found itself on the brink of bankruptcy late in 2008 and had to undergo a financial recovery procedure. The procedure was carried out by Alfa-Bank and Deposit Insurance Agency.
The new owner decided that Bank Severnaya Kazna should close down, so the bank’s business activity is gradually diminishing at the moment.
‘We have to options to choose between: liquidation or a merger. The final decision will be taken by April 1, 2010, this is the deadline stated in the bank’s financial recovery schedule,’ Novikov explained when asked by a reporter.
Yekaterinburg-based Bank Severnaya Kazna found itself on the brink of bankruptcy late in 2008 and had to undergo a financial recovery procedure. The procedure was carried out by Alfa-Bank and Deposit Insurance Agency.
The new owner decided that Bank Severnaya Kazna should close down, so the bank’s business activity is gradually diminishing at the moment.
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