Latvia's Parex Bank has opened two new braches in the Estonian cities of Tallinn and Tartu. The bank has also announced plans to continue their expansion into the Estonian market with at least one more Tallinn office. Parex is also planning on opening a service center in the Swedish city of Goteborg. Parex provides local and international bank transactions, currency exchange, term deposit, online banking, crediting and leasing services to its retail and corporate clients in Estonia. Parex is the second largest bank in Latvia in terms of assets.
Marius Grinevicius, the director of the Nuclear Energy Department at Lietuvos Energija, has been appointed as CEO of Visagino Atomine Elektrine, a new company designed to help prepare for the construction of Lithuania's new nuclear power plant. Visagino Atomine Elektrine is expected to officially register itself as a company on Sept. 1 with an authorized share capital of 12.7 million litas (3.7 million euros). Talks surrounding ownership of the new company are still ongoing, but it is expected that Leo LT will hold 51 percent of the shares and the rest will be given to other partners in the project.