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Trust Bank Penza clients queue up to January for their savings

13:58 | 23.12.2014 | Society

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Penza, 23 December 2014. PenzaNews. Clients of Trust Bank that is currently undergoing a resolution procedure have lined up for their money in the office on Kirova street, 55A, unable to get their money back. According to bank accountants, they “are not giving a ruble away” out of the queue, regardless of sum or deposit. As of noon of Tuesday, December 23, withdrawal queue has stretched as far as to January 13, 2015.

Trust Bank Penza clients queue up to January for their savings

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As one of the clients of Trust Bank informed PenzaNews agency, bank workers are distraught and sometimes unable to fully answer questions from people.

“One of them asked all present in the bank foyer to avoid closing their accounts, even if they are due to close in the nearest future. The young man asked people to remain calm and avoid disseminating harmful rumors about the bank. After one of the visitors asked to tell him what happened, the bank worker explained the institution became ‘state-owned’ and will make sure to fulfill its obligations to customers,” said the agency interlocutor.

He added he was promised in verbal form to receive all interest on his deposit that is due in the second half of January 2015 soon after the due date. However, he was asked to write a withdrawal petition in two copies.

“I saw no panic among the clients. But obviously people are displeased they have to stand in queue for a long time. There are more clients in the office than usually: people come to withdraw their money, people who deposited money come to take it back,” noted the agency interlocutor.

As PenzaNews agency reported earlier, on Monday, December 22, the board of directors of the Bank of Russia decided to hold a resolution procedure against JSC “National Trust Bank” and set up the plan to involve state institution “Deposit insurance organization” to preven Trust Bank from going bankrupt.

The plan delegates the institution with temporarily administrative functions, while authority of bank shareholders tied to equity capital has been temporarily suppressed.

According to the plan, the institution will provide up to 30 billion rubles of support to “National Trust Bank” to support its activity via a loan from the Bank of Russia.

The investor for the institution will be determined in the nearest future. It may be one of the larger Russian banks.

Along with financial support, the institution will conduct multi-factor evaluation of the bank in order to determine the next step to help it stay afloat.

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