The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) plan to acquire up to 20% each in TBC Bank Uzbekistan (TBC UZ), a subsidiary of TBC Bank Group. The investments are aimed at strengthening digital finance in Uzbekistan and, thereby, increasing financial inclusion in the country. The first installment is…
The Estonian units of SEB ended the first half of 2021 with a profit of EUR 50.7 million, up by 23.3% YoY. Compared to the first half of 2020, the bank’s revenues increased by 0.4%, to EUR 85.6 million, while expenses declined by 5%, to EUR 28.9 million. SEB’s loan portfolio increased by 2.4% in…
Latvia’s Finance and Capital Market Commission (FKTK) has fined Rietumu Bank a total of EUR 5.85 million for violations of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, as confirmed by FKTK. It is the biggest fine that has been applied to a bank by FKTK so far. In 2019,…