Despite the development, the amount of deposits in the banking system increased by around 60 million litas (EUR 17.4m) on Tuesday, he said.
“There is nothing very interesting here. Financial flows have actually remained unchanged in nature and the response from the households, companies is muted. The amount of deposits has even gone up, by 60 million litas,” Kuodis said at a news conference on Wednesday summing up the results of the first day after Ūkio Bankas’ closure.
The Bank of Lithuania reported that on February 12, the amount of deposits in banks increased by 59.7 million litas, or 0.14 percent.
“The functioning of the national banking system is stable, the movement of deposits is slight and in line with the multiannual average. Holders of deposits understand it very clearly that the absolute majority of deposits are covered by insurance and they are not concerned about their money in banks,” Kuodis said.
According to the provisional data provided by the temporary administrator of Ūkio Bankas, 99.7 percent of the deposits held at the bank do not exceed the maximum amount covered by state-guaranteed deposit insurance. Hence close to 200,000 depositors of the bank will recover their money in full irrespective of what happens to the bank.
