RIGA - While Citadele Bank remains under the ownership of the Latvian state, its value continues to drop regardless of the economic situation, claims investment banker and IBS Prudentia partner Girts Rungainis, reports Nozare.lv. He believes that Citadele must be sold “as soon as possible,” since there is no reason to believe that its value could increase over the next six months or any other period.“The bank’s rating was reduced. Its losses from bad loans continue to grow, which does not indicate an increasing value,” explains Rungainis.The banker p...
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