VILNIUS - On Nov. 24 Lithuanian Finance Minister Ingrida Simonite confirmed that the government would not try to rescue Snoras bank and that the bank could either be liquidated or split into parts and sold.
“The state can’t take over all the losses as the bank is in trouble not due to the economic problems, but the activities by its shareholders and managers,” she said.
“The possibility of meeting their [creditors’] requirements will depend on how many assets bank has,” the minister said. Today the Central Bank of Lithuania is due to provide information on Snoras, but Simonite stressed that the data currently available shows that the bank’s liabilities exceed its assets.
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