Latvia to wind up second bank in two years after ECB decision
The European Central Bank said on Thursday that AS PNB Banka was "failing or likely to fail", marking the second time in as many years that a Latvian bank has been declared insolvent.
The ECB said that AS PNB Banka had “consistently failed to implement remediation measures” to improve its solvency, having been in breach of its regulatory capital requirements since the end of 2017.
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org