Krajbanka asset search continues

  • 2012-10-31
  • By TBT Staff
RIGA - Latvijas Krajbanka, a Latvian bank that was seized by regulators last year, plans to sell part of its 185 million lats (264.2 million euros) credit portfolio in the first quarter, according to its administrator, KPMG, reports Bloomberg.“The first round of due diligence has happened and we’ve received indications of interest,” Stephen Young, a senior partner at KPMG Baltics, said Oct. 17 in an interview in Riga. “We’d expect a reasonable proportion to be sold.”Krajbanka is seeking to recover 167 million lats of missing assets, regulators es...
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