Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 20.09.2018, 14:25

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Only 6% of Baltic residents have strong digital skills – SEB

Only 6% of Baltic residents have strong digital skills – SEB

20.09.2018

Only 6% of residents in Estonia, Latvia and Lithuania have necessary digital skills to freely use digital solutions, it appears from a survey conducted by SEB Bank on their Baltic customer base this spring, cities LETA/BNS.

Keyword tags: Analytics, Banks, Estonia, Financial Services, Latvia, Lithuania, Technology



Restructured credit union sector in Lithuania expanding and must accumulate required capital buffer

Restructured credit union sector in Lithuania expanding and must accumulate required capital buffer

20.09.2018

The enhanced credit union sector, which, as of this year, operates under new regulations, operated profitably and strengthened its capital.

Danske Bank to donate EUR 200 mln of income earned in Estonia

Danske Bank to donate EUR 200 mln of income earned in Estonia

19.09.2018

Danske Bank announced that it has decided to donate 1.5 bn Danish kroner or approximately 200 mn euros of income earned from suspicious transactions at the bank's Estonian branch and the bank has also revised its profit outlook downward, reported LETA/BNS.


Estonia: Danske's non-resident customers moved over EUR 200 b

Estonia: Danske's non-resident customers moved over EUR 200 b

19.09.2018

An audit ordered by Danske Bank showed that most of the 10,000 non-resident customers of the bank's Estonian branch were suspicious and it is likely that most of the transaction flow of the bank was also suspicious, while Danske in relation to the suspicious activities has reported eight former employees to the Estonian police and 42 employees and agents have been deemed to have been involved in some suspicious activity, reported LETA/BNS.

Baltic International Bank to invest EUR 12 mln in renovation of quarter in Old Riga

Baltic International Bank to invest EUR 12 mln in renovation of quarter in Old Riga

19.09.2018

Baltic International Bank will invest EUR 12 million in reconstructing and refurbishing of the Old Riga quarter situated between Kaleju Street and Vecpilsetas Square, the bank’s spokeswoman Inese Malnaca reported.


18.09.2018

Bank of Lithuania does not grant licence to HUSH LT due to reputational concerns

The Supervision Service of the Bank of Lithuania rejected the application of UAB HUSH LT to issue an electronic money institution licence for restricted activity since the head of the company failed to meet legislative requirements; moreover, the company provided incorrect information about him, informed Bank of Lithuania.

18.09.2018

Up to 120,000 people without health insurance in Estonia

Up to 120,000 working-age residents of Estonia have no health insurance over the long term, says an analysis by the Praxis Center for Policy Studies which explored a switch to a universal healthcare system as one of the options available to Estonia, reported LETA/BNS.

18.09.2018

US court: Estonian forex broker Tallinex must pay over USD 10 mln in restitution

Retail forex broker Tallinex OU, which was punished for operating without an activity license in Estonia already in 2016, was punished in the United States with a federal court decision ordering the company to pay more than 10 million dollars in restitution to U.S. customers and a civil penalty of 681,888 dollars.

18.09.2018

PRFoods insider Lahtinen sells EUR 34,000 worth of shares

Pekka Pentti Olavi Lathinen, insider of the listed fish products seller PRFoods who swiftly sold some of his shares at the beginning of the summer, sold another 34,000 euros' worth of shares in the company at the beginning of September, reported LETA/BNS.

18.09.2018

Latvia to increase its payment in International Financial Corporation and International Bank for Reconstruction and Development

Latvia will increase its payment into the International Financial Corporation (IFC) and the International Bank for Reconstruction and Development (IBRD), according to the draft decision prepared by the Finance Ministry and approved by the government today, informed LETA.

18.09.2018

Lithuania's minimum wage may rise to EUR 430 next January - PM

Lithuanian Prime Minister Saulius Skvernelis says that, based on updated earnings growth forecasts, the minimum monthly wage may rise to 430 euros next January, informed LETA/BNS.

17.09.2018

Baltics to get more of US attention due to Blackstone investment – experts

The decision by a consortium led by private equity funds managed by Blackstone to invest 1 bln euros into Luminor, a Scandinavian bank operating in the Baltic states, should make the US administration pay more attention to the Baltic states, and also attract more investors from this country, informs LETA/BNS referring to political scientists.

14.09.2018

Bank of Latvia's average inflation forecast for 2019 unchanged at 2.9%

The Bank of Latvia's average inflation projection for 2019 is 2.9%, same as the previous forecast, informs LETA referring to the central bank's deputy governor Zoja Razmusa.

14.09.2018

Non-resident deposits at Latvian banks has fallen to historically lowest level – 20.5%

Non-resident deposits at Latvian banks has dropped to its historically lowest level – 20.5%, informs LETA referring to the Financial and Capital Market Commission.

13.09.2018

Luminor to focus on increasing efficiency and business activity - CEO

CEO of Luminor Group, Erkki Raasuke, said that instead of expansion, Luminor will focus on increasing efficiency and focusing its business activity, while the attractive segments include corporate customers and entrepreneurs.

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