EE: PM Andrus Ansip rules out any hesitations about Estonian banks.

By bne IntelliNews November 18, 2011
PM Andrus Ansip commented on the situation of Snoras bank in Lithuania, saying that such case is impossible in Estonia. Ansip said that four of the largest Estonian banks are well capitalized, have sufficient reserves, are properly audited. Ansip added that neither Bank of Estonia, nor the banking inspectorate have any doubts about any of the banks. Financial Supervisory Authority in Estonia announced that Estonian residents have put total of EUR 7.8mn in the bank Snoras. Bank Snoras has been nationalised on Wednesday amid allegations of insolvency, shortcomings in accounting, and fast depletion of cash in the bank's accounts.

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