A general meeting of Nevsky Bank participants decided to reorganize the lending institution into an open joint stock company, the PR department of the Central Bank of the Russian Federation reported.

“In accordance with Article 53 of the Federal Law “On Limited Liability Companies” Nevsky Bank’s creditors will be entitled within thirty calendar days from the publication of this notice to demand from the company in writing to prematurely terminate or fulfill relevant obligations and indemnify losses. Written requests should be submitted to the following address: bldg. 3, 5 Kievskaya St., Saint Petersburg, 196084, Russia," the CBR noted in a press release.

According to the data from news agency Banki.ru and Interfax-CEA, as of January 1, 2009 net assets held by Nevsky Narodny Bank were equal to Rub 1.12 bln (617th place in Russia). The lending institution is a member of the national deposit insurance system.