Banks

International Internet Magazine. Baltic States news & analytics Sunday, 21.10.2018, 02:48

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Latvian FCMC fines LPB Bank 2.2 mln euros for violating laws on financial crime prevention

Latvian FCMC fines LPB Bank 2.2 mln euros for violating laws on financial crime prevention

19.10.2018

The Financial and Capital Market Commission (FCMC) of Latvia has fined LPB Bank 2.2 mln euros for violations of the law and regulations on the prevention of money laundering and terrorism financing, and ordered LPB Bank to dismiss the bank's board member Arnis Kalverss, who is responsible for the bank's measures against financial crime, informs LETA.

Keyword tags: Banks, EU – Baltic States, Financial Services, Latvia, Legislation



Citadele has paid 69% of guaranteed deposits to ABLV Bank's clients

Citadele has paid 69% of guaranteed deposits to ABLV Bank's clients

19.10.2018

To date, 328.66 mln euros have been paid out in guaranteed deposits to ABLV Bank’s clients, which is 69% of the total amount payable to the bank’s clients, informs LETA referring to the Citadele Bank’s spokeswoman Ieva Praulina.

Companies have started to borrow more in Estonia

Companies have started to borrow more in Estonia

18.10.2018

Companies took loans from banks and from elsewhere. Growth in corporate debt could be a sign of increasing investment. Households are borrowing enthusiastically, especially from banks. The risks from the rapid growth in credit are eased by growth in incomes and savings.


EBRD to buy EUR 150 mln worth of Luminor bonds

EBRD to buy EUR 150 mln worth of Luminor bonds

18.10.2018

The European Bank for Reconstruction and Development (EBRD) is to invest up to 150 million euros in a series of senior bonds issued by Luminor Estonia under its European Medium Term Note (EMTN) program in order to support the bank in its efforts to become a self-funded and independent pan-Baltic financial institution, informed LETA/BNS.

Why inflation rate of close to 3% is healthy for Latvia at this stage

Why inflation rate of close to 3% is healthy for Latvia at this stage

17.10.2018

In September, annual inflation exceeded 3% for the first time in 13 months. For the second consecutive year, the consumer price rise in Latvia was slightly faster than in the euro area on average. This article will look at the underlying factors of the above and why an inflation rate close to 3% is a sign of a healthy economy at this stage.


16.10.2018

Surplus on the current account continues to increase in Lithuania

The Bank of Lithuania published the balance of payments data for August 2018, which shows that the surplus on the current account balance amounted to 136.8 mln euros and, compared to July 2018, increased by 21.7%.

16.10.2018

The surplus on the goods and services account in August was the largest this year – Eesti Pank

The flash estimate put the Estonian current account at 43 mln euros in surplus in August 2018. Turnover was up on the previous August for both goods and services, though faster growth in imports meant the total surplus of goods and services shrank to 108 mln euros.

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