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Rumours of collapse strikes at Swedbank  and other Swedish banks in Latvia
Monday, 12 December 2011
Rumours that the Swedish banking giant, Swedbank, in Latvia was closed to collapse led to customers queuing at ATMs machines to withdraw their money.

On Sunday evening there a third of the bank's ATMs in Latvia were empty. In Riga, the capital, worried bank customers queued at ATMs.

“People have been crazy and tries to extract as much money as possible,” says Elena Shishkin to the Swedish tabloid newspaper’s website, Aftonbladet.se.

Swedbank communications director Thomas Backteman says that when the Latvian bank Krajbanka was taken over by authorities a few weeks ago rumours started to spread that the Swedish banks were next in line.

“They {rumours} died afterwards, but on Friday they took renewed momentum,” he said to news agency TT.

The pressure has led to about a third of the approximately 350 – 400 ATMs owned by Swedbank in Latvia to be emptied on Sunday evening.

“Our employees are working hard to ensure that ATMs are replenished,” says Backteman.

Other Swedish banks in Latvia have also been affected by the rumours.
“There have been a little over droppings effect on us. Now we are looking for that there is money in the machines so that it would continue on Monday,” says Laurence Westerlund at SEB.
The Swedish banks are now working together with the Latvian and Swedish authorities to put an end to the rumours that are reported to be baseless.
By scancomark.se Team

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