Swedbank has frozen the accounts of a sanatorium in Lithuania's southern town of Druskininkai, which belongs to the State of Belarus, citing the sanctions introduced by the European Union.
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Swedbank AB (Swedish pronunciation: [ˈsvɛdbaŋk], [ˈsvɛdbæːŋk] or [ˈswɛdːbæːŋk]) is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. In 2019 Swedbank had 900,000 private and 130,000 corporate clients and a 60% market share of Estonia’s payments.
Swedbank, a leading bank in Lithuania, raised on Tuesday its forecast for the country's GDP growth in 2019 from 3 percent to 3.7 percent, saying the probability of the economy going into a downturn is low in the context of gloomier global projections.
The central Bank of Lithuania says it has no information to confirm claims by Swedish media about the links of the country's financial group Swedbank and its bank in Lithuania with Syria's chemical weapons program.
The Bank of Lithuania reports that Swedbank clients are receiving false text messages about how Swedbank will supposedly cease operations on March 2, that their accounts will be transferred to another bank and an account number is presented to transfer funds.
The Bank of Lithuania will provide assistance to the Swedish and Estonian financial supervisory authorities in the investigation of recent information regarding alleged money laundering transactions linked with the Swedbank group.
Lithuania's Finance Minister Vilius Šapoka called on the eurozone and the European Union to establish a single anti-money laundering system after a money laundering scandal hit the Swedish banking group Swedbank on February 20.
People in Lithuania this year plan to spend slightly more money on Christmas gifts than they did last year, according to a survey commissioned by Swedbank.
Annual consumer price growth reached 3.9% in July. Meanwhile, the average annual inflation picked up to 2.3%, Swedbank announced.
Invest Lithuania, the government's agency in charge of attracting foreign investment, has sealed 19 foreign direct investment (FDI) projects this year. Over the coming three years, these investments are expected to create 1,800 new jobs, the agency said.
The Swedish Swedbank banking group has transferred a significant portion of its investment fund and investment portfolio administration services to a branch in Vilnius. To read this article, try a €5.99 monthly subscription by clicking here.
From January to May, the number of mail or internet orders in Lithuania increased by 34.9% compared to the same period in 2015. E-commerce is opening more and more local and international opportunities for the country's small- and medium-sized businesses.
