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Unicredit SpA Planning to Give Up Latvian Bank License

Unicredit SpA (UCG) plans to give up its banking license in Latvia and focus on leasing in the three Baltic states, the lender said in a statement on its website today.

The bank was the eighth-largest by assets in Latvia as of year end 2012, according to the country’s commercial bank association.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

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

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