International Internet Magazine. Baltic States news & analytics
Saturday, 25.01.2020, 17:39
Foreign chambers of commerce in Latvia approve of the ongoing financial market reforms, but there are still concerns and many uncertainties regarding banks' customer due diligence procedures, as Armands Gutmanis, head of the Swiss Chamber of Commerce in Latvia, told LETA.
Keyword tags: Banks, Financial Services, Latvia
The banking sector in Estonia earned net profit of 285 mln euros in 2019, which was one fifth less than in the previous year. The main reason for this was structural changes in the banking market. The net interest income and net service fee income of the banks fell a little as a ratio to total assets, but the ratio of administration costs remained the same as a year earlier. Changes in loan write-downs also affected profits. The net profit of the banking sector was 1% of total assets.
Bank of Lithuania: The halfway point towards European prosperity surpassed, yet many challenges still await24.01.2020
Over the last two decades, the gap between the standard of living in Lithuania and the EU average has more than halved, placing Lithuania in the leading position among the rest of the new EU Member States. However, an analysis carried out by the Bank of Lithuania has shown that to reach the average EU prosperity level, the country will have to address complex challenges that may come on its way. t
The assessment provided by experts at the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval) can be considered a very positive signal, the association's board chairperson Sanita Bajare told LETA.
Meridian Trade Bank has changed its name to Industra Bank (Industra), LETA learned from the bank.
Latvia has made progress in strengthening its framework to tackle money laundering and terrorist financing, finds the first enhanced follow-up report, published today by the Committee of Experts on the Evaluation of Anti-money Laundering Measures and the Financing of Terrorism (MONEYVAL).
The Board of the Bank of Lithuania has approved the sample of the physical version of the digital collector coin – an original silver coin bearing a denomination of EUR 19.18 to commemorate the year of the Act of Independence of Lithuania. LBCOIN is dedicated to this prominent Act and its 20 signatories.