The story
The bank had a network of branches and sales points in Latvia, however was not able to follow prudential requirements and was recognized as a "bank likely to fail" by ECB on 15 August 2019. Latvian Regulator took sufficient actions and stopped all the transactions, in order to prevent fund flow outside the bank. PNB Banka was the 6th largest bank in Latvia by assets. The bank provided an array of various banking services to a wide range of customers from natural persons to international industrial enterprises.
In October 2014 the bank's shareholders invested in Norvik Banka's equity capital 69.638 million euros.
On 16 October 2014 it was announced that Norvik Banka bought 97.75% stake in Russia's Vyatka Bank. The deal was approved by both the Financial and Capital Market Commission of Latvia and the Central Bank of Russia. Vyatka Bank is a universal regional commercial bank with representative offices in four Russian regions. Vyatka Bank focuses mainly on servicing of private persons and is a stable leader by all the most important bank performance indicators in Kirov Region.
At the beginning of 2014 the Norvik Group employed 1002 persons (Norvik Banka – 604 employees), while at the end of 2014 the number of employees within the Norvik Group reached 1640 persons (Norvik Banka – 606 employees).
At the beginning of 2018, Russian businessman Grigory Guselnikov and his family acquired direct control over Vyatka Bank without mediation from Norvik Banka. On 9 November 2018, the bank changed its name to PNB Banka as the next stage of development.
From Wikipedia’s article on PNB Banka, shared under CC BY-SA 4.0.5