RIGA - Surprise and frustration pulled down the corners of customers' mouths as they shrugged their shoulders at a sign by the door. They couldn't believe it, said depositors of Latvia's fifth largest bank, but that's what the sign said: "Bank of Latvia has closed Rigas Komercbanka effective March 7. The bank's liabilities exceed its assets."The Riga Stock Exchange suspended trading of RKB shares March 8 while the Bank of Latvia filed a claim in Riga district court to have RKB declared insolvent. About 50 customers lined up outside RKB March 8 found the bank unexpectedly closed."Our parents...
The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please authorize yourself.
In case you don't have a subscription yet - please visit our
SUBSCRIPTION section