Belgian bank Optima has been declared bankrupt on 15 June by commercial court in Gent, according to Belgian newspaper Le Soir.
Optima initiated a procedure earlier in June to renounce its banking license since the firm has decided to drop its traditional banking activities, deposits having slumped dramatically since 2014.
Other factors having pushed Optima to cut its banking services include difficulties to meet Bale III’s requirements and the lasting low interest rate environment.
Le Soir explains that the bank still tallies thousands of clients whose accounts have been blocked since last week by the National Bank of Belgium.
The Belgian Guarantee Fund will reimburse clients’ deposits to a maximum of €100,000 per client.