Norway's Optin Bank to be wound down, government says
OSLO, June 23 (Reuters) - Norway's Optin Bank has been stripped of its operating licence and will be wound down, the government said on Wednesday.
The small, loss-making lender recently failed to convince its shareholders to inject fresh equity. The government's decision was made at the advice of the Financial Supervisory Authority of Norway, which regulates banks.
Optin had around 270 million crowns ($31.7 million) of deposits from customers, the government said. The Norwegian Bank Guarantee Fund will cover losses of up to 2 million crowns per customers. ($1 = 8.5230 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)
