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Central bank to approve new bank merger

Aug 05, 1999
By Paul Beckman

VILNIUS - Officials of Lithuania's two largest commercial banks, Vilniaus Bankas and Bankas Hermis, caused a wave of excitement last June when they announced their intention to merge the two banks.They inched even closer to each other July 23 when Vilniaus Bankas formally requested the central bank's permission to acquire more than 66 percent, and up to 100 percent, of Hermis' share capital.In a brief joint statement, Vilniaus Bankas and Hermis announced they had wrapped up merger negotiations a ...

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