Skip to main content

Bigbank AS received a fine from Eesti Pank

Written by Customer Service on . Posted in Public Companies.

Eesti Pank issued a notice to Bigbank AS on 22 of December 2023 regarding a violation of the mandatory reserve requirement and imposed a fine of 10,430.53 euros. According to the notice, the average balance of Bigbank AS’s reserve account during the holding period from 01.11.2023 to 19.12.2023 was below the mandatory reserve requirement. Bigbank AS agrees with the remark provided in the notification.

According to Martin Länts, the Chairman of the Board of Bigbank AS, the violation regarding monitoring the reserve volume was due to a human error. “A human mistake was made in monitoring the reserve volume. To address and prevent this in the future, we have implemented additional post-control measures. We are also reviewing the entire workflow for monitoring the reserve volume with the aim of minimizing the likelihood of human errors. I consider it important to add that this event has nothing to do with the bank’s liquidity – Bigbank AS has a significant liquidity buffer at Eesti Pank and fulfills all liquidity requirements with a margin.”

Bigbank AS (www.bigbank.ee) is based on Estonian capital and focuses on loans and deposits for private and corporate customers. In addition to its activities in Estonia, Bigbank has branches in Finland, Sweden, Latvia, Lithuania and Bulgaria and also offers its products as a cross-border service in Austria, Germany and the Netherlands. Bigbank’s total balance sheet exceeds 2 billion euros.

Additional information:

Martin Länts
Chairman of the Management Board
E-mail:  martin.lants@bigbank.ee
www.bigbank.eu

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.