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The Russian Shadow Over Banking’s Nordic Noir

The Russian Shadow Over Banking’s Nordic Noir
Image by Latvijas Banka
Lats commemorative coin

When Nordic banks started to flood into the Baltic countries at the turn of the century, it seemed a golden opportunity to establish a lucrative new business in a hyper-competitive industry. “This was seen as the great new frontier,” says one Nordic banker involved in the expansion. Soon, various lenders including Danske Bank, Swedbank, SEB, Nordea and DNB controlled almost all domestic banking in Estonia, Latvia and Lithuania.

“This was seen as the great new frontier,” says one Nordic banker involved in the expansion. Soon, various lenders including Danske Bank, Swedbank, SEB, Nordea and DNB controlled almost all domestic banking in Estonia, Latvia and Lithuania…

To read more visit Financial Times.

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