Banks, Deposits, Financial Services, Legal Counsel, Lithuania

Insured deposits amount to LTL 2.7 billion (EUR 781.9 million). For transfer of these financial commitments and the "good" assets of Ukio Bankas additional LTL 800 million (EUR 231.6 million) may be required.

"I think that soon Minister of Finance will resolve this problem. Residents should not feel any difficulties. Each month Deposit Insurance Fund accumulates from LTL 15 million (EUR 4.3 million) to LTL 17 million (EUR 4.9 million). If we need to borrow LTL 800 million (EUR 231.6 million) for a short-term period, this will be done. Besides, later these funds will be resorted to the Treasury," said the PM on Tuesday.

As reported, On Monday the Board of the Bank of Lithuania Board declared Ukio Bankas insolvent and permanently revoked its license. It was decided to transfer bank's assets, rights, liabilities and contracts to another bank operating in Lithuania, Siauliai Bank.