Swedbank Lithuania Unit Dismisses Rumors, Plans Legal Action

The Lithuanian unit of Swedbank AB (SWEDA) told clients to ignore “rumors” about its business, saying people spreading the false information were liable to prosecution.

“Clients are receiving false messages calling into question the continuity of the bank’s operations and spreading baseless rumors” via social networks, mobile-phone messages and e-mails, the Vilnius-based unit said on its website today. “The bank intends to turn to legal institutions regarding this spreading of false information.”

Similar speculation in neighboring Latvia in December 2011 sparked withdrawals by Swedbank clients equivalent to about 10 percent of that unit’s deposits, Diena newspaper reported at the time, citing the Latvian banking regulator.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

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

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