Bank Czestochowa closes its branches to its clients
Due to an unexpected deposit outflow, Bank Czestochowa decided to close all of its branches yesterday. The bank's president Marek Chakowski said that the bank is in a good condition and the one to blame for the crisis situation is a local newspaper that recently ran a story about the bank's financial troubles and possibility of its bankruptcy. The bank's clients reacted to the story by a run on the bank. Chakowski said the bank will open its branches within the next few days. At the same time, the bank said it took a rediscount loan of PLN 8.5mn (USD 1.90mn). The financial condition of Bank Czestochowa, which is listed on the Warsaw bourse, is in fact not very good as after the first three quarters of this year, the bank posted PLN 4.4mn of net loss. Still, its capital adequacy ratio is 9%, or one percentage point more that the minimum set by NBP.
Źródło:IntelliNews Daily
