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Lithuania Tells Competition Watchdog to Investigate Danske Bank

Feb. 20 (Bloomberg) -- The Lithuanian central bank asked the Competition Council to investigate the Lithuanian unit of Danske Bank A/S over allegations of unfair advertising.

The central bank also told Danske to cease advertising that suggested deposit rates of as much as 25 percent without disclosing additional information about mandatory insurance payments that come with the plan, the Vilnius-based Lietuvos Bankas 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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