Trading with Univerzal banka a.d. shares suspended

UniCredit Bank Serbia JSC
Summary: 
Belgrade Stock Exchange suspended the trading with the shares of Univerzal banka a.d. after the National Bank of Serbia revoked its operating license.
Mon, 03/02/2014

The National Bank of Serbia (NBS) revoked the operating license of Univerzal banka a.d. stating that the Bank was critically undercapitalised. NBS named the Deposit Insurance Agency as the administrator of the closed bank, which will pay out all insured deposits. NBS also said that the action was taken in order to protect the depositors' interests and to maintain the stability of the financial system, adding that the bank's shareholders did not show readiness to come to its rescue.

As a result of the decision of NBS, Belgrade Stock Exchange suspended the trading with the shares of Univerzal banka a.d. (ISIN RSUBBAE14618).

Impact on investors: The shares of Univerzal banka a.d. were suspended from trading as a result of the bank losing its operating license.