AS Versobank was founded in October 1999. Versobank offers retail banking products and services to natural persons and legal entities residents of Estonia. Debit and credit cards are also offered to non-residents. On March 29, 2018 the European Central Bank (ECB) has revoked the authorisation of AS Versobank to operate as a credit institution following the request of Financial Inspection of Estonia due to its failure to eliminate severe breaches of legal requirements to prevent money laundering and combating terrorism financing.
Versobank AS was the 9th largest bank in Estonia in terms of total assets. In 2017 its total assets were 293,73 mln EUR, providing the bank with the market share of 1.16%. In 2017 the bank's net income was 298 000,00 EUR.
Versobank AS participates in deposit guarantee scheme of Estonia. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Versobank AS was headquartered in Tallinn.
time deposit accounts
Versobank AS provides products and services in the areas of retail banking, corporate banking, securities services. The range of products offered by Versobank AS includes current accounts, credit cards, debit cards, savings accounts, time deposit accounts, consumer loans, car loans, mortgage loans, trading accounts.
|Total Assets (2017)|
|293.73 mln EUR (+46.78%)|
|Total Equity (2017)|
|19.38 mln EUR (+3.57%)|
In 2017 total assets of Versobank AS were 293.73 mln EUR. Growth compared to the previous period (2016) was 46.78%. The evolution of the total assets of Versobank AS is shown at Chart 1 below.
Chart 1. Total Assets of Versobank AS.
Recent changes in total assets of Versobank AS and its main components are shown in Table 1.
|Cash and deposits with Central Banks||110.6||83.8||-24.24%|
|Table 1. Recent changes in total assets of Versobank AS (mln EUR).|
Recent changes in total liabilities of Versobank AS and its main components are shown in Table 2.
|Table 2. Recent changes in total liabilities of Versobank AS (mln EUR).|
|Net Income (2017)|
|298 000.00 EUR (-77.94%)|
Recent changes in gross profit of Versobank AS and its main components are shown in Table 3.
|Table 3. Recent changes in gross profit of Versobank AS (mln EUR).|
In 2017 net income of Versobank AS was 298 000.00 EUR. Decline compared to the previous period (2016) was -77.94%. The evolution of the net income of Versobank AS is shown at Chart 2 below.
Chart 2. Net Income of Versobank AS.
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Estonia are obliged to participate in Estonian deposit guarantee scheme.
In the case of Versobank AS failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Versobank AS and its components are shown in the table below.
|Bank BIC Code||SBMB|
|Country Code||EE (Estonia)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Versobank AS is shown in the table below.
Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.