Lithuania's Swedbank announced it is halting transfers to 61 high-risk countries as of September, BNS, a Baltic newswire, reported on August 10.
The goal is to reduce the risk of transfers to foreign countries, it explained.
The countries will include Afghanistan, Aruba, Guinea-Bissau, Brunei, Burkina Faso, the Central African Republic, the Virgin Islands, Djibouti, Eritrea, Fiji, the Gambia, Guinea, Haiti, Iraq, Iran, Mauritania, Myanmar, Niger, South Sudan, Syria, Somalia, North Korea, Vanuatu, Venezuela and others.
"Our data shows that Swedbank customers have made very few international transfers to these countries (only a few per year)," the bank says.
If customers still need to make international transfers to any of these countries after September 1, the bank says they should look for other transfer options, BNS said.
Related Articles
Estonian banks see €368mn profit in Q1 2025
Commercial banks in Estonia earned a combined profit of €368mn in the first quarter of 2025, down from €444mn a year earlier but up from €291mn in the previous quarter, according to Eesti Pank, ... more
Poland’s Orlen signs deal to supply Ukraine with LNG
Ukraine’s Naftogaz will purchase 100mn cubic metres of LNG from Poland’s Orlen, Ukraine’s biggest state-owned energy firm announced on March 7. The LNG will be transported from cargoes ... more
Swedbank Estonia CEO says Lithuania's bank taxes spooked investors' and foreign banks’ interest
Olavi Lepp, CEO of Swedbank’s Estonian branch, stated that Lithuania’s recently imposed temporary bank solidarity levy has dampened interest among new banks and foreign investors in the ... more
Most Read
-
Armenia courts African countries to supply diamond industry
17 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
21 hours ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
11 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
18 days ago