Atnaujinta: 2024.07.29 17:24 (GMT+3)

Hansapank: Hansabank's employee committed a fraud

2000.08.08, Hansapank, TLN
HANSAPANK
ANNOUNCEMENT

HANSABANK'S EMPLOYEE COMMITTED A FRAUD

An employee of Hansabank has committed a fraud involving a client of
trade finance. The job contract with the employee has been terminated
and the concurring financial loss to the bank is being specified.
Hansabank will shortly file an application to the police regarding the
violation.
In the immediate future, Hansabank’s department of internal
investigations will complete the investigation of the case. So far, it
has been established that Mait Koldits, head of the department of
trade finance, together with a client, withheld knowledge about an
unguaranteed loan issued by Hansabank to the client in the summer of
1998. Koldits also submitted false information to the bank’s credit
committee.

The expected loss could amount to EEK 66 million. In August Hansabank
will form EEK 66 million of provisions to cover the expected loss.
Regardless of the extraordinary provisions, Hansabank remains within
the range of analysts' profit forecast and the bank does not need to
issue a profit warning.

To avoid future violations of the kind, Hansabank will scrutinize and
perfect the regulations governing the organization of work procedures
and the internal rules in the department of trade finance.
As soon as the details are clarified, Hansabank will file an
application to the police for a criminal case to be opened against the
employee who committed the fraud.

Additional information:

Aivar Rehe
Chief Credit Officer
Tel: +372 613 1960


Mart Tõevere
Head of Investor Relations
+372 6131 569

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