The European Central Bank has fined SEB’s Baltic operations a total of EUR 1.24 million for failing to adequately address deficiencies in credit risk assessment practices, including a EUR 490,000 penalty for the bank’s Lithuanian branch. According to the ECB, internal models used by SEB banks in Estonia, Latvia and Lithuania for calculating the Margin…
Banks in Bulgaria have allocated a total of 400 million leva to prepare their systems for the transition to the euro, according to Petya Dimitrova, chairwoman of the Association of Commercial Banks. She highlighted the significant benefits that adopting the single currency would bring, including enhanced competitiveness, improved operational efficiency, better access to capital and…
The National Bank of Ukraine (NBU) has recorded a halt in the trend of decreasing interest rates on deposits and expects their further increase following the latest monetary policy decisions, the NBU Governor Andriy Pyshnyy has said. “The downward trend in deposit interest rates has stopped. Moreover, in January, we recorded a slight, but significant…
Bulgarian National Bank (BNB) Governor Dimitar Radev expressed support for the National Assembly’s decision regarding the request for an extraordinary convergence report on Bulgaria’s admission to the eurozone. Radev confirmed that the request would be signed “without a doubt”. He also commented on the recent controversy surrounding claims by the “Revival” party about a secret…
Since the start of the full-scale war, almost UAH 43.4 billion from the special account opened by the National Bank of Ukraine has been allocated for defense needs, including UAH 5.4 billion in January. As of February 1, the balance in the special account, which the National Bank opened to support the defense forces on…
Ukraine’s banking system has successfully completed the second stage of transition to a new three-tier capital structure in line with EU requirements. As of January 1, banks’ capital was sufficient to cover all key risks. This was reported by the National Bank. “Ukraine’s banking system has successfully completed the second stage of transition to a…
Several banks in Bulgaria have recently announced changes to their fees, particularly for cash withdrawals and deposits. These adjustments, which were communicated to customers in advance through their websites and notifications, would take effect on various dates. Customers have been informed at least two months ahead of time, as required by law, about the upcoming…