Banks bait up for the big fish

Sep 17, 1998
Sandra L. Medearis

RIGA - While cameras clicked and reporters pocketed Latvia's trademark Laima chocolates, representatives of Hansabank Latvia and Zemes Bank penned signatures Sept. 11, acknowledging the merger of their parent banks, Estonia's Hansapank and Hoiupank. The merger, still to be approved by the Bank of Latvia and shareholders at both banks, will form the fifth largest bank in Latvia. The merged bank's new name is Hansabank-Latvia.Economies of scale and combined assets will save money and reduce risk, ...

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