“Everything in life comes to an end…” – this is how Grigory Guselnikov, the former main shareholder of the Latvian PNB Banka , began his post on Twitter .

It was, of course, about his bank. More precisely, about the role of Guselnikov in it. A well-known Russian banker sold his shares to investors from Europe and the United States.

According to the press service of PNB Banka, in the coming days, the new shareholders will present their business strategy to the Latvian regulator (Finance and Capital Market Commission (FCMC). It is expected that the bank will expand its product line, offer modern technological solutions for Latvian and international clients.

Chairman of the Board of PNB Banka Oliver Bramwell noted that negotiations with potential investors had been going on for some time. At the same time, the experience of American and European investors (names not named) will help the bank “broaden its horizons and opportunities.”

“Our goal is to become an equal and competitive bank in Latvia and Europe,” Bramwell added.

In addition, according to the press service of the bank, under the wing of new shareholders, PNB Banka plans to abandon the continuation of litigation against the Republic of Latvia, the FCMC and the European Central Bank (ECB).

Recall that PNB Banka (former Norvik banka) is one of the largest Latvian banks providing services on the international market.

The previous shareholder of the bank, Grigory Guselnikov, has repeatedly sued the Latvian authorities, accusing them of corrupt activities. Due to lawsuits initiated by the bank’s management, PNB Banka came under ECB supervision in the spring. Then this decision was regarded in the bank as positive, excluding political risks.

The bank emphasizes that all contracts and agreements previously concluded with PNB Banka remain valid for customers. No service changes are planned.

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