International Internet Magazine. Baltic States news & analytics
Saturday, 20.12.2014, 05:41
The Supreme Court in Latvia has upheld a 2011 decision by the Competition Council to fine 22 Latvian commercial banks for running a cartel, LETA was informed by the Competition Council.
Keyword tags: Banks, Financial Services, Latvia, Legislation
The Financial Crime Investigation Service in Lithuania (FNTT) probe headed by Prosecutor General's Office into possible financial crimes committed by the heads and shareholders of bank Snoras has advanced further, reports LETA/ELTA.
Latvian branch of the Estonian bank Bigbank increased its credit portfolio by 2.2% (EUR 6.4 million) in the third quarter of 2014 as compared to the second quarter, reports LETA.
As of March 2015, Eesti Pank will be applying three requirements to commercial banks issuing housing loans as a precautionary step to decrease the risk of a credit boom in the future, Estonia's central bank announced, cites LETA.
Several financial institutions – Swedbank, SEB banka, Norvik banka, Danske Bank and Reverta – have sent a joint statement to over 600 recipients today that collates the most recent insolvency cases that have generated the most publicity, reports LETA.
In October 2014, the build-up of the current account balance (CAB) in surplus (LTL 292.7 million, or EUR 84.8 million) was driven by an increase in the balance of services deficit, as well as the decreasing, but still in surplus, balances of secondary income and capital account, reports LETA/ELTA.
The government today approved the Privatization Agency's proposal to restructure Latvia's liabilities in regard to the European Bank for Reconstruction and Development, reports LETA.