Vilnius, Lithuania, 2011-11-17 08:14 CET (GLOBE NEWSWIRE) -- AB Invalda informs that the company has LTL 20 million (EUR 5.79 million) deposit certificate of AB bank Snoras. On Wednesday (16th November, 2011) the Government of Lithuania has announced that it has decided to take over 100 per cent of AB bankas Snoras shares for the needs of the society. The Board of the Bank of Lithuania has ruled out to appoint the temporary administrator of AB bankas Snoras and impose temporary restrictions on the activities of the bank to ensure protection of assets of the bank.
The exposure to AB bankas Snoras amounts to 4.1 per cent of AB Invalda assets and 7.2 per cent of equity as of 30th June, 2011 (the latest publicly announced financial statements) and about 12 per cent of available financial resources of Invalda (cash, cash equivalents and liquid financial instruments) as of 30th September, 2011.
The person authorised to provide additional information:
Darius Sulnis, the president, tel. +370 5273 4876