Beginning of the bankruptcy procedure of the Montenegrin bank «Atlas Bank»
Way to Montenegro https://waytomonte.com
05.04.2019
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Today the Head of the Central Bank of Montenegro announced at a press conference about the start of the bankruptcy procedure of the Montenegrin bank Atlas Bank.
The total amount of Atlas Bank deposits is 189 million euros, of which state-guaranteed cash is 89 million euros. In addition, at the moment the State Fund of Montenegro for the protection of deposits has financial funds in the amount of 108 million euros, so the amount of deposits guaranteed by the state will be paid in full to depositors. It is also worth noting that the amount guaranteed by the state for individuals and legal entities is no more than 50,000 euros.
The decision on the payment of deposits will be made within 15 days.
Due to the closure of Atlas Bank, 198 employees will remain out of work, of whom a trustee appointed by the Central Bank of Montenegro and managing the bankruptcy procedure may temporarily save up to 10% of the total number of bank employees during the bankruptcy process.
The total amount of Atlas Bank deposits is 189 million euros, of which state-guaranteed cash is 89 million euros. In addition, at the moment the State Fund of Montenegro for the protection of deposits has financial funds in the amount of 108 million euros, so the amount of deposits guaranteed by the state will be paid in full to depositors. It is also worth noting that the amount guaranteed by the state for individuals and legal entities is no more than 50,000 euros.
The decision on the payment of deposits will be made within 15 days.
Due to the closure of Atlas Bank, 198 employees will remain out of work, of whom a trustee appointed by the Central Bank of Montenegro and managing the bankruptcy procedure may temporarily save up to 10% of the total number of bank employees during the bankruptcy process.
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