Snoras Takeover, Finances ‘More Complicated’ Than Thought
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Lithuanian Prime Minister Andrius Kubilius said the situation at Bankas Snoras AB, which was taken over by the government last week, is “more complicated than initially thought.”
The bank’s assets may be lower than previously believed and some loans weren’t “sufficiently” provisioned, Vaidievutis Geralavicius, a central bank board member, told a news conference today. The central bank will have more information about the takeover of Snoras and a probe into its finances on Nov. 23, Kubilius told journalists earlier today.