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Russia enters Lithuanian banking market

Mar 27, 2003
Steven Paulikas

VILNIUSOne of Lithuania's largest banks has come under nominal control of a little-known Russian financial institution, leaving industry insiders to wonder whether there was any potential synergy between the two.On Mar. 21, Snoras Bankas' chairman resigned after the Moscow-based Konversbank acquired the holding company that owns a controlling stake in the Lithuanian bank. In a statement to the press, Jefimas Borodulinas, former chairman of Snoras' board of directors, declared that his team had f ...

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