Ūkio bankas: Difference between revisions
Added name of money laundering scheme |
Added wikilink |
||
| Line 48: | Line 48: | ||
In February 2013 the bank was revealed to have poor asset quality, weak risk management and lack of proper operating data. The check also revealed that the bank has ignored the central bank's recommendation to reduce operating risks. On 12 February, the Bank of Lithuania in accordance with Art. 76 of the Law on Banks of the Republic of Lithuania (the “Law on Banks”) announced a partial and temporal restriction on activities (the “Moratorium”) of AB Ūkio bankas.<ref>[http://www.ub.lt/en/news/view/1572/notice-regarding-activities-of-the-ab-ukio-bankas-from-12-february-2013-''Notice regarding activities of the AB Ūkio Bankas'', 12 February 2013]</ref> Ukio was removed from the Lithuanian stock exchange later that month,<ref>{{cite web|url=http://www.baltic-course.com/eng/finances/?doc=70962|title=Ukio Bankas removed from NASDAQ OMX shares list|date=26 February 2013|publisher=[[The Baltic Course]]|access-date=26 February 2013}}</ref> with many of its assets and liabilities transferred to {{ill|Šiaulių bankas|lt}}. |
In February 2013 the bank was revealed to have poor asset quality, weak risk management and lack of proper operating data. The check also revealed that the bank has ignored the central bank's recommendation to reduce operating risks. On 12 February, the Bank of Lithuania in accordance with Art. 76 of the Law on Banks of the Republic of Lithuania (the “Law on Banks”) announced a partial and temporal restriction on activities (the “Moratorium”) of AB Ūkio bankas.<ref>[http://www.ub.lt/en/news/view/1572/notice-regarding-activities-of-the-ab-ukio-bankas-from-12-february-2013-''Notice regarding activities of the AB Ūkio Bankas'', 12 February 2013]</ref> Ukio was removed from the Lithuanian stock exchange later that month,<ref>{{cite web|url=http://www.baltic-course.com/eng/finances/?doc=70962|title=Ukio Bankas removed from NASDAQ OMX shares list|date=26 February 2013|publisher=[[The Baltic Course]]|access-date=26 February 2013}}</ref> with many of its assets and liabilities transferred to {{ill|Šiaulių bankas|lt}}. |
||
Ūkio bankas has been associated with [[money laundering]] known as the '''Troika Laundromat'''.<ref>{{cite web|url=https://www.knack.be/nieuws/belgie/belgie-het-doorgeefluik-voor-10-miljard-euro-van-witwasbank-ukio-bankas/article-normal-1436781.html|title=België, het doorgeefluik voor 10 miljard euro van 'witwasbank' Ukio Bankas|first=Kristof Clerix is redacteur bij|last=Knack|date=4 March 2019|website=www.knack.be}}</ref><ref>{{cite web|url=https://www.trouw.nl/home/bijna-een-miljard-euro-stroomde-vanuit-litouwen-naar-nederland~a709d2f1/|title=Bijna een miljard euro stroomde vanuit Litouwen naar Nederland|website=Trouw}}</ref> |
Ūkio bankas has been associated with [[money laundering]] known as the '''[[Sberbank CIB#Troika Laundromat|Troika Laundromat]]'''.<ref>{{cite web|url=https://www.knack.be/nieuws/belgie/belgie-het-doorgeefluik-voor-10-miljard-euro-van-witwasbank-ukio-bankas/article-normal-1436781.html|title=België, het doorgeefluik voor 10 miljard euro van 'witwasbank' Ukio Bankas|first=Kristof Clerix is redacteur bij|last=Knack|date=4 March 2019|website=www.knack.be}}</ref><ref>{{cite web|url=https://www.trouw.nl/home/bijna-een-miljard-euro-stroomde-vanuit-litouwen-naar-nederland~a709d2f1/|title=Bijna een miljard euro stroomde vanuit Litouwen naar Nederland|website=Trouw}}</ref> |
||
==See also== |
==See also== |
||
Revision as of 01:42, 24 November 2019
 | You can help expand this article with text translated from the corresponding article in Dutch. (March 2019) Click [show] for important translation instructions.
|
 | |
| Company type | Public company |
|---|---|
| Nasdaq Baltic: UKB1L | |
| Industry | Financial services |
| Founded | 1989 |
| Defunct | 2013 |
| Headquarters | , |
Key people | Gintaras Ugianskis (Chairman of the Board) |
| Products | Retail banking, mortgage loans, corporate banking |
| Website | http://www.ub.lt |
Ūkio Bankas was a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore is in the control of the bank.[1] It was the fifth largest and oldest private bank in Lithuania.
In October 2006 during internet conference on the news portal Delfi.lt Vladimir Romanov announced his plans of selling his shares to the strategic investor. GE Money, a branch of General Electric, as one of the possible buyers was mentioned by Romanov.[2]
In common with other banks Ūkio Bankas suffered from the effects of credit crunch and on 26 August 2008 rating agency Standard & Poor downgraded the banks status from stable to negative.[3]
The organisation sponsored Lithuanian football club FBK Kaunas and Scottish team Hearts. Romanov was the owner of Hearts and a board member of FBK Kaunas.
In February 2013 the bank was revealed to have poor asset quality, weak risk management and lack of proper operating data. The check also revealed that the bank has ignored the central bank's recommendation to reduce operating risks. On 12 February, the Bank of Lithuania in accordance with Art. 76 of the Law on Banks of the Republic of Lithuania (the “Law on Banks”) announced a partial and temporal restriction on activities (the “Moratorium”) of AB Ūkio bankas.[4] Ukio was removed from the Lithuanian stock exchange later that month,[5] with many of its assets and liabilities transferred to Šiaulių bankas.
Ūkio bankas has been associated with money laundering known as the Troika Laundromat.[6][7]
See also
References
- ^ "Shareholder listing".
- ^ LHV, 15 October 2006
- ^ Collier, Mike (28 August 2018). "S&P downgrades Ukio". The Baltic Times. Retrieved 7 October 2008.
{{cite web}}: Cite has empty unknown parameter:|1=(help) - ^ Notice regarding activities of the AB Ūkio Bankas, 12 February 2013
- ^ "Ukio Bankas removed from NASDAQ OMX shares list". The Baltic Course. 26 February 2013. Retrieved 26 February 2013.
- ^ Knack, Kristof Clerix is redacteur bij (4 March 2019). "België, het doorgeefluik voor 10 miljard euro van 'witwasbank' Ukio Bankas". www.knack.be.
- ^ "Bijna een miljard euro stroomde vanuit Litouwen naar Nederland". Trouw.
External links
