Lithuania Chooses SEB Bank to Pay Insurance to Snoras Depositors

The Lithuanian government chose the country’s largest lender, SEB Bank AB (SEBA), to pay insurance to individual depositors of Bankas Snoras AB (SRS1L), which filed for protection from creditors.

Companies will be compensated through other banks, including Ukio Bankas (UKB1L) AB, Swedbank AB (SWEDA), Siauliu Bankas (SAB1L) AB, Nordea AB, DnB Bank AB, Danske Bank AB, the Finance Ministry in Vilnius said in an e-mailed statement today.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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