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Weekly Lists
September 28, 2018 www.intellinews.com I Page 25
bne:Banker EU banking watchdog
to probe Denmark and Estonia over Danske Bank scandal
The European Banking Authority (EBA) plans to probe the Danish and Estonian banking supervision authorities over the Danske Bank scandal, Politico Europe reported on September 24.
Danske Bank said last week that non-resident customers put an estimated €200bn of payments – many of them suspicious – through the bank’s Estonian branch in 2007-2015.
The bank admitted that “a series of major deficiencies in the bank's governance and control systems made it possible to use Danske Bank’s branch in Estonia for suspicious transactions.”
The Danske Bank case highlights lax control over money flows in Estonia and is an embarrassment for the authorities of the Eurozone, of which Estonia has been a member since 2011.
The supervisory board of Russia's second-largest bank VTB approved the acquisition of private bank Vozrozhdenie, Vedomosti daily reported on September 25 citing the state-controlled bank.
Reportedly VTB is set to acquire 9.6% of Vozrozhdenie's preferred shares and 14.9% of ordinary shares for an undisclosed amount, if the deal is approved by the Central Bank of Russia (CBR) and Federal Antimonopoly Service (FAS).
Previous reports showed that in September VTB was prepared to buy a controlling stake of at least 75% in Vozrozhdenie that belongs to the former owners of the nationalised Promsvyazbank, Dmitri and Alexei Ananyev.
The forex liquidity risk of Turkish banks has heightened significantly amid the ongoing market volatility and currency weakness in Turkey and it is highlighted by recent deposit outflows, Fitch Ratings warned on September 24 in a report on Turkish banks’ external debt.
Turkey’s Akbank and Turk Eximbank have increased pricing on two syndicated loans to encourage international lenders to join the deals, banking sources told Reuters on September 4, with Turkey’s financial crisis showing no sign of abating.
Russia's VTB Bank approves acquisition of Vozrozhdenie Bank
Fitch warns of Turkish banks' liquidity risk highlighted by deposit outflows