March 07, 2023
Press release on the decision to voluntarily liquidate Sora Bank AG and to surrender the banking licence
Sora Bank AG has held a banking licence since 2001, until December 2022 under the name Bank Alpinum AG.
Since the acquisition by a new majority shareholder in September 2021, attempts have been made to restructure Sora Bank AG (formerly Bank Alpinum AG). Despite great efforts on the part of the employees, the Executive Board and the Board of Directors, these attempts have not succeeded. Sora Bank AG continually makes losses every year and no change in the situation is foreseeable.
After careful deliberation, the shareholders therefore agreed today to dissolve Sora Bank AG and enter into voluntary liquidation. The general assembly has decided to renounce the banking licence. The written renunciation has been submitted to the financial market supervisory authority.
The customers of Sora Bank have placed their trust in us. This also comes with great responsibility. Sora Bank AG and its owners are now fulfilling this responsibility by taking the necessary measures at an early stage. The shareholders of Sora Bank AG have consciously taken the step of voluntary liquidation. For the shareholders and the bank, it is important that the interests of customers and creditors are protected.
The liquidation will be managed by KMPG (Liechtenstein) AG as auditor under banking law. In addition, Heinz Konzett – who was already a member of the Executive Board – has also been appointed as co-liquidator. The financial market supervisory authority is taking the requisite measures for the execution of the liquidation and the processing of ongoing business and issuing the necessary instructions to the liquidators. Moreover, the authority is overseeing the liquidators and the liquidation process.
We wish to take this opportunity to express our thanks for the trust placed in us and hope that all affected parties are able to understand this step. All employees also deserve gratitude and recognition for their commitment.
Phone: +423 239 62 11
Contact: info@sorabank.com