2012-03-06
Results of the inspection and results of the supervisory review and assessment of AB SEB bankas
Members of the Board of the Bank of Lithuania discussed the report of the target inspection of AB SEB bankas. The inspection focused on the management and internal control, and the management of credit, liquidity, market and operational risks of AB SEB bankas, as well as on certain areas of the bank’s internal capital adequacy assessment process.
The Board of the Bank of Lithuania instructed AB SEB bankas to prepare the plan of measures to eliminate the shortcomings related to the bank's risk management and internal control systems and other shortcomings of the bank’s operation ascertained during the inspection and the supervisory review and assessment and submit it to the Bank of Lithuania.
AB SEB bankas was instructed to eliminate other shortcomings of the bank’s operation ascertained during the inspection and the supervisory review and assessment by 30 June 2011.
The Head of Administration of AB SEB bankas was instructed to arrive to the Bank of Lithuania no later than within ten days of the receipt of this resolution and to explain how the bank plans to eliminate the shortcomings of its operation, as well as to notify the results of the planned actions after the expiry of the term of their implementation.
The Board of the Bank of Lithuania decided to inform the credit institutions supervisory authority of the Kingdom of Sweden about the results of the inspection and the results of the supervisory review and assessment of AB SEB bankas.