Twoja SKOK credit union declared bankrupt

Credit union Twoja SKOK was declared bankrupt by a district court, the Financial Supervision Authority (KNF) said on its website. KNF suspended operations of Twoja SKOK mid-May and filed for its bankruptcy. At end-March, Twoja SKOK had negative equity of PLN 52.6 million and had over PLN 79 million in losses. Its deposits totalled PLN 170.3 million.