Lubuska SKOK gets new owner

Lender Wschów Bank Spółdzielczy will takeover the troubled credit union Lubuska SKOK with financial involvement from the banking guarantee fund BFG, Financial Market Supervisor KNF announced. Lubuska SKOK has PLN 10.26 million in deposits and negative equity of PLN 1.7 million, its assets, estimated at PLN 9.18 million represents a 0.82 percent of the Bank Spółdzielczy assets, which will take full control of the credit union at the end of this month.