Estonia fears that a Swedish Baltic market will be banned – Financial Markets – Financenet


The Chairman of the Board of Estonian Supervisory Board of Kilvars Kesler said Estonia has run out of time when offenders could use the public financial system as a bridge to the global markets. There is now a risk that Swedish banks, over the Baltic area, may leave the Estonian financial market.

"These are our main concerns," said Kesler in Stockholm.

Despite that, this situation shows a very different situation in Estonia's involvement in financial resolution. For example, Danske Bank, which was sent with $ 230 billion in the money laundering of an Estonian branch, was thrown out of the nearby financial market.

However, Swedbank, the largest bank in the Baltic area, despite similar objections, is seen as a very important step in the Estonian financial sector.

Swedbank and SEB are the two largest banks in the Baltic area, both of which comprise 66% of credit centers in Estonia, 45% in Latvia and 57% in credit institutions. Lithuania. However, at present there is no bank yet to allow the Baltic area to be left. For example, SEB Bank representative Frank Hojem said that "the bank's long-term strategy for achieving fair growth in the Baltics" is ".

Swedbank also believes that “the bank is loyal to the Baltic sector, which is regarded as one of the home markets”.

Kesler says that Estonian authorities make it possible for guests to sort out the finance section.

"Over the last five years, we have invested heavily in improving our financial performance. At the moment, I can say – all decorations are silver t as happened before, "said Kesler.

Despite losing money, Kesler said Swedish banks are thought to be one of the strongest in Europe to provide financial sustainability.

"If, at this time, the Baltic Swedish banks seem to be finding an alternative to value, with the new conditions, surely it will be a Baltic problem," said Kesler.

Earlier it was said that fundraising and manager Hermitage Capital Management had sent Bill Bugger, who was well known for fighting for money, a legal challenge against Swedbank last week. He believes the money put to the bank is associated with Sergey Magnitsky's case.

Denmark's largest bank is estimated to have launched more than 230 billion dollars in connection with the former Soviet Union over the period 2007-2015. The Bank is now managed by the US authorities.

After the start of the knife, Viking banks have begun to invest large sums of money in the development of technology, so it was easier to find suspicious businesses for different authorities. Kesler says that he would like to co-operate more closely with Estonia and Sweden, as well as being a "anti-money laundering machine" if Sweden comes into the euro zone ".

"Unfortunately, we have no close links with Denmark in the financial sector, but with Sweden it is almost Swedish that accounts for almost 70% of our markets, so it would be easier to do so. T doing different work in one money, "said Keslers.

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