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.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more