OREANDA-NEWS. July 05, 2010. 1. Results of the Inspection of Danske Bank A/S Lithuania Branch
The Board of the Bank of Lithuania was presented information on the results of the inspection of Danske Bank A/S Lithuania Branch conducted by the Credit Institutions Supervision Department of the Bank of Lithuania, reported the press-centre of Bank of Lithuania.

It was assessed whether Danske Bank A/S financial statements and reports for supervisory purposes submitted to the Bank of Lithuania were prepared correctly, also the way of ensuring the compliance with the liquidity ratio requirement and the effectiveness of the internal control system were examined.   By way of sampling the compliance with the requirements for the data entry into the Loan Risk Database was checked.

Danske Bank A/S, credit institution of the Kingdom of Denmark and the Danish Financial Supervisory Authority will be notified about the results of the inspection of Danske Bank A/S Lithuania Branch.

The supervision of branches of banks of EU countries in Lithuania is performed by the banking supervisory authority of the foreign state within the jurisdiction of which the bank that established a branch falls. The Bank of Lithuania is responsible for monitoring the compliance with the liquidity ratio requirement, deposit concentration, analysis of financial indicators, changes in assets and liabilities, income and costs, applied internal control mechanisms, and performs inspections within the range of its competence.