OREANDA-NEWS. July 24, 2009.
1. Concerning the Results of the Inspection of Nordea Bank Finland Plc Lithuanian Branch
The Board of the Bank of Lithuania was provided with the information about the inspection of Nordea Bank Finland Plc Lithuanian Branch. It was established that the Branch breached the Minimum Loan Assessment Requirements and the Rules for the Administration of Loan Risk Database approved by the Board of the Bank of Lithuania, reported the press-centre of Bank of Lithuania.

The Nordea Bank Finland Plc Lithuanian Branch was instructed to remove by 1 October 2009 the violations of the legal acts identified during the inspection.

The decision was made to inform the Finnish bank Nordea Bank Finland Plc that the bank must ensure that the shortcomings in the activities identified in the Lithuanian Branch during the inspection are removed.

The results of the inspection Nordea Bank Finland Plc Lithuanian Branch will also be submitted to the Financial Supervision Authority of the Republic of Finland.

2. Concerning the Results of the Inspection of “Swedbank”, AB
The Board of the Bank of Lithuania was provided with the information about the target inspection of bank “Swedbank”, AB. The inspection was carried out in order to assess credit and liquidity risk management, internal control and the approach applied to ICAAP. Some other issues were also discussed.

The Board adopted a number of decisions according to which bank “Swedbank”, AB must strengthen capital base. Bank “Swedbank”, AB was instructed to remove by 1 December 2009 the shortcomings in the activities identified in the inspection report.