The insolvency administrator of Lithuania’s bankrupt bank Snoras and Swiss bank Julius Baer & Co. Ltd amicably settled a legal dispute over the financial transactions made by Snoras’ former executives and shareholders when they transferred large amounts of money to foreign banks. Under the signed agreement, Julius Baer & Co Ltd will pay 105 million…
Georgia’s banking sector has been “at the forefront” of implementing good corporate governance practices and helping to strengthen the country’s economic and financial development, says a new report by a joint World Bank-International Monetary Fund programme. Produced as part of the programme of Reports on Observance of Standards and Codes, with the assistance of the…
The National Bank of Poland (NBP) paid out PLN 10.4 billion (EUR 2.22 billion), or 95% of its annual profit in 2021, into the state budget, the NBP said in a news release on June 15. In 2021, the NBP paid PLN 8.9 billion (EUR 1.9 billion) into the state budget. “On June 15, the…
In the next few years, the expenses related to green transformation, which make it possible for Poland to meet the climate targets of the European economy, may reach even PLN 100 billion annually. Such a huge challenge is impossible to undertake without the involvement and determination of the entire banking sector, as Jerzy Kwiecinski, Vice…
A temporary suspension of mortgage payments by borrowers who are strapped for cash due to rising interest rates may cost the banking sector up to PLN 20 billion (EUR 4.34 billion), the National Bank of Poland (NBP) has said. The government has proposed the so-called mortgage vacations, a four-month suspension of payments per year, as…
The housing loans portfolio continued to grow in recent volume in April, gaining EUR 194 million, while the preparedness of companies to invest with the help of loans was dwindling, the Estonian Banking Association said. The Estonian Banking Association said that companies’ loan portfolio fell short of EUR 300 million for the fourth consecutive month.…
The central Bank of Lithuania has set up a specialised Centre for Financial Market Development to promote continuous successful growth of the country’s financial market. The centre will look for ways to strengthen the existing financial market participants and attract new ones, promote sustainable FinTech development, implement capital market development measures. The Bank of Lithuania’s…