- Introduction of SMS lending brings surge in credit fraud
Police have received about 30 complaints from credit fraud victims since Aug. 1, 2006, when the Finnish company Ferratum began offering credit via text messaging, the Eesti Paevaleht reported on Oct. 18.
- Baltic banks branch east, west
Banks based in the Baltic states, now experienced with EU operations and western customer service in addition to previous knowledge of the former Soviet system and Russian language, are moving their business eastward.
- Estonian central bank sees euro as stabilizing force
Representatives of Parliament’s finance committee announced on Oct. 16 that the Bank of Estonia was prepared to take additional measures to maintain the strength of Estonia’s financial sector.
- Swedish, Finnish style crisis for the Baltics?
The period between 1985-1995 saw rapid growth, and an ultimate bust, in Finnish and Swedish real estate prices, as well as aggressive lending spurred by the newly deregulated credit market.
- Country holds breath while awaiting Banka Baltija verdict
A Riga court was set to hand down sentences to three defendants charged with fraud and negligence in the bankruptcy of Banka Baltija, the financial institution that took hundreds of million of euros – and almost the country’s entire banking system ...
- In brief
Parex Bank and American Express announced last month that they had agreed to launch American Express Gold and Platinum credit cards in Latvia.
- Finance alternatives for medium-sized companies
A bank loan, mezzanine financing and increase of share capital are the principal options for financing both business enlargement and acquisitions – e.g., management buyout, management buyin, etc.
- Searching for a niche in top-heavy market
Uhispank President Ain Hanschmidt suggested at a conference in September 2004 that Tallinn could become the financial capital of northern Europe thanks to the wide availability of finance experts and the growing experience in the field.
- Stocks, bonds best bets in high-inflation environment
The common presumption that it’s best to invest in this robust corner of the EU continent has been turned on its head, as annual inflation in Latvia is barreling ahead at 7.8 percent and set to rise even higher.
- Slow but steady growth for life insurance
Latvians can finally afford to be safe. Or at least that’s what the country’s insurance companies - boasting the highest premium rates since independence - have shown.
- E-banking rides wave of popularity
Without a doubt the most robust trend in retail financial operations these days is e-banking, according to Metasite, a company specializing in management consulting and technology solutions that recently concluded a report on the subject.
- Rating investment risk
Two leading financial magazines, Euromoney and Institutional Investor, have published new investment risk ratings for countries across the globe.
- In Lithuania, the state eats for all
Though Lithuania may be unique for having the Baltics’ largest bond market, investors interested in diversifying their debt portfolios are going to have to wait for some time.
- Banking briefs
Parex Bank has decided to increase capital by 6 million lats (9.2 million euros) to 64.7 million lats in its second closed emission of shares this year.
- Baltic bourses: one for all, all for one?
It is no secret that European equity markets are characterized by fragmentation and relative inefficiency.
- With equity, private crowds out public
At first glance the results are impressive. The Baltic Index of 15 blue chip stocks has soared 67 percent this year, and daily turnover in September was twice what the average was for 2002.
- Russian oligarch acquires Baltic Transit
Oleg Boiko, a billionaire with interests in Russia’s metal industry, has consolidated indirect control over 50 percent of Latvia’s Baltijas Tranzitu Banka (Baltic Transit Bank).
- Export guarantees in unstable markets
Kredex, Estonia’s state-owned credit-guarantee foundation, has devised a new long-term guarantee for local exporters.
- Banks to take account of the growing risks
With the growing development tempo of the Baltic banking sector and the ever-increasing competition, we face a question whether this development is not taking place at the expense of an increasingly risky approach to banking transactions.
- Estonian banks protect themselves with chip cards
Estonian banks have adopted cutting edge technology to protect themselves and their customers from growing credit card fraud.