Snoras
Snoras was the third largest (2011) financial institution in Lithuania . It was built in 1992. In 2007 the bank employed 2100 people. In 2011 it was taken over by the state and divided. Snoras was one of the first (1992) newly established banks after Lithuania's regain independence from the Soviet Union . In 2006, the Financial Times magazine "The Banker" named Snoras the "Best Bank in Lithuania". Snoras first launched mortgage loans for individuals in Estonia and Latvia . The main owners were the Russian Vladimir Alexandrovich Antonov and the Lithuanian Raimondas Baranauskas .
Emergency nationalization
According to the Lietuvos Bankas inspectorate , information has emerged suggesting "possible criminal activity in relation to the bank's assets". The bank was restructured after securing the assets. They wanted to found a bad bank and a "healthy" new financial institution. The government hired a US financial restructuring firm to temporarily manage the banking business.
swell
- Lithuanian bank is emergency nationalized
- Snoras bank tells court how ex-owners Vladimir Antonov and Raimondas Baranauskas embezzled funds