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Lithuania Seeks Missing Assets in Takeover of Snoras Bank

Lithuania’s banking regulator said hundreds of millions of dollars in assets may be missing from Bankas Snoras AB after the government took over the Baltic nation’s fifth-biggest lender on concern it may be performing illegal operations.

More than 1 billion litai ($392 million) of assets may be unaccounted for, central bank Governor Vitas Vasiliauskas told reporters yesterday in the capital, Vilnius. Snoras’s operations were halted until Nov. 21 and a state administrator appointed after the lender ignored recommendations to reduce its credit risk, the regulator said in a statement.