[ad_1]
Aware: 02/01/2021 10:16 AM
Vladimir Ivanovo (VŽ) nuotr.
The shares of the Swedbank Group banks operating in Lithuania, Latvia and Estonia will be managed by a new subsidiary of the bank in the Baltic States.
In this way, Swedbank will formalize the current business model, increasing the accountability and responsibility of the Baltic bank management team. This will ensure that local banks get stronger, the bank said.
Swedbank Group Chief Executive Officer Jens Henriksson says that in early 2020, the bank began improving its internal governance model in line with supervisory recommendations and best banking practices.
“Our goal is to have a simple and transparent accountability and decision-making structure that will help implement the bank’s long-term strategy in Swedbank’s four national markets: Estonia, Latvia, Lithuania and Sweden.” he said.
Jonas Lidefelt, director of Swedbank Baltic Banking, will be the managing director of the holding. He will also be the chairman of the Supervisory Councils of banks in Estonia, Latvia and Lithuania.
“Will the new company continue to develop bank clients in Estonia, Latvia and Lithuania? many homes and businesses? banking experience and subsidiaries in all national markets will continue to have a strong local identity ”,? it said in a statement.
The new parent company will be registered in Latvia and will employ employees from all banking markets. It is scheduled to go live in the middle of this year, subject to regulatory approvals.
The reproduction of information from the BNS news agency in the media and on websites without the written consent of the UAB “BNS” is prohibited.
Write a comment
[ad_2]
