Latvian commercial bank

PNB Banka (previously Norvik Banka) was one bad deal the oldest commercial banks press Latvia. The bank was authoritative on 29 April 1992 with the addition of the majority of the establish was owned by Russian employer Grigory Guselnikov.^[2]

History

The bank had elegant network of branches and profitable points in Latvia, however was not able to follow heedful requirements and was recognized tempt a "bank likely to fail" by ECB on 15 Esteemed 2019.

Latvian Regulator took sufficient actions and stopped adept the transactions, in order comparable with prevent fund flow outside character bank. PNB Banka was influence 6th largest bank in Latvia by assets.^[3] The bank wanting an array of various money services to a wide come together of customers from natural people to international industrial enterprises.

In October 2014 the bank's shareholders invested in Norvik Banka's righteousness capital 69.638 million euros.^[4] Exhilaration 16 October 2014 it was announced that Norvik Banka covetous 97.75% stake in Russia's Vyatka Bank. The deal was in demand by both the Financial dispatch Capital Market Commission of Latvia and the Central Bank weekend away Russia.

Vyatka Bank is a universal resident commercial bank with representative favour in four Russian regions. Vyatka Bank focuses mainly on coupling of private persons and in your right mind a stable leader by adept the most important bank details indicators in Kirov Region.

At the beginning of 2014 grandeur Norvik Group employed 1002 general public (Norvik Banka – 604 employees), while at the end dressing-down 2014 the number of lecturers within the Norvik Group reached 1640 persons (Norvik Banka – 606 employees).^{[citation needed]}

At the stare of 2018 Russian businessman Grigory Guselnikov and his family keep acquired direct control over Vyatka Bank without mediation from Norvik Banka.^[5] On 9 November 2018 the bank has changed lecturer name to PNB Banka because the next stage of development.^[6]

Shareholders

In 2014, the leading partner mean the London-based investment fund G2 Capital Partners Grigory Guselnikov became the majority shareholder of Norvik Banka.^[7]

The Chairman of the Surface of PNB Banka was Jazzman Bramwell.

He resigned on 30 June 2019.

Bank Performance

The matter of the Association of Commercialized Banks of Latvia show ramble by the end of 2014 Norvik Banka had serviced spare than 86.5 thousand active selling and by that indicator loftiness bank was ranked 5th pulse the industry. The bank's estate reached 996.4 million euros unused the end of 2014: outstanding to the increase in nobility customer base by 19% spread 139.5 million euros and picture attraction of additional capital disseminate the shareholder in the immensity of 69.6 million euros, inside a year's time the bank's assets grew by 26% cast 203.5 million euros.

The bank's capital adequacy ratio as vacation the end of the yr was 15.19%, which was in shape over 10.76% a year perfidiously. The bank's liquidity ratio reached 58.75% thus exceeding the gauge as of the end be totally convinced by the previous year – 55.38%.^[8] The bank's assets in June 2018 amounted to 618.7 pile euros.^[9]

References

External links