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PRESS RELEASE

ECB takes over direct supervision of AS PNB Banka in Latvia

11 March 2019

  • Change follows request by the Latvian national supervisory authority

The European Central Bank (ECB) has decided to classify AS PNB Banka as significant and will assume its direct supervision as of 4 April 2019. This follows a request made by the Latvian Financial and Capital Market Commission. AS PNB Banka was notified about the ECB’s decision on 4 March.

The decision is based on Article 6(5)(b) of the Single Supervisory Mechanism Regulation.

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