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Central bank endorses RKB rehabilitation plan

May 20, 1999
Sandra L. Medearis

RIGA - The bank of Latvia gave Rigas Komercbanka the go-ahead to reopen for business May 14 with the provision that the commercial bank continue to hunt for capital in addition to that provided by current syndicated investors, the Bank of Latvia and the Latvian government.Along with its approval, Latvia's central bank advanced RKB 15.5 million lats ($26.3 million) at 4 percent interest - some of which may not return to the Bank of Latvia's vaults, but worth the risk to jump start RKB for the goo ...

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