AS HANSAPANK

ANNOUNCEMENT

13.01.99

 

 

ESTABLISHMENT OF A LITHUANIAN BANKING SUBSIDIARY

 

 

Today, on January 13, 1999 Hansapank will make an LTL 33 

million payment into its Lithuanian daughter bank’s, AB 

Hansabank, share capital. The said amount will be deposited in 

Lithuania until the reception of the operating license and the 

registration of the bank.

 

Hansapank received the permission to establish a daughter bank 

in Lithuania from the Bank of Estonia at the end of 1998, which 

was followed by a period of consultations with the Lithuanian 

Central Bank. Hansapank has submitted the Articles of 

Association of the daughter bank for approval with the 

Lithuanian Central Bank and the license application will most 

likely be submitted to the Central Bank in February.

 

 

HANSABANK Ltd.

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569

 

 

Additional information:

Ago Lauri

Head of Foreign Division

+372 6133 524