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Latvia Bank Accused of North Korea Links Expects to Keep License

  • U.S. has alleged Latvia’s ABLV has ties to missile program
  • ECB imposed payment moratorium on Baltic lender earlier Monday
A sign stands at the entrance to the ABLV Bank AS offices in Riga, Latvia, on Wednesday, Dec. 11, 2013. The country of 2 million will become the 18th member of the euro area in January after transforming its finances and recovering from the world's deepest collapse in output four years ago.

Photographer: Jason Alden/Bloomberg

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ABLV Bank, the Latvian lender denying U.S. allegations that it’s linked to North Korea, said it doesn’t expect the European Central Bank to withdraw its license after authorities suspended its ability to process some payments.

The bank “absolutely” expects to keep its ECB authorization, and is meeting officials in Frankfurt Tuesday to discuss how to return to normal operations, spokesman Arturs Eglitis said on the sidelines of a news conference in Riga late Monday. Ernests Bernis, the bank’s chairman and co-owner, said ABLV was the victim of a “slandering campaign” and asked for a police investigation.