2013-02-14
Bank of Lithuania ordered the beginning of negotiations regarding possible transfer of the assets and liabilities of Ūkio bankas
The Bank of Lithuania, aiming to protect the interests of depositors, other customers and the public, and taking into account the necessity to as soon as possible find a solution on the issue of the prospects of Ūkio bankas, told the Bank’s temporary administrator to begin preliminary negotiations regarding the transfer of the Bank’s assets and liabilities.
The temporary administrator has been given permission to begin preliminary negotiations with Šiaulių bankas, which has already expressed interest in taking over the assets, rights, contracts and liabilities of Ūkio bankas, as well as with other banks that have expressed similar interest.
On 12 February the Board of the Bank of Lithuania authorised Adomas Audickas, the temporary administrator, to examine and assess the financial standing of Ūkio bankas, the possible means of re-establishing the stability and reliability of the operation of the bank, and solutions to the Bank’s other problems. Although the administrator can present his conclusions and proposals within six days, he has been encouraged to do so as soon as possible