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Nemea Bank controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2021

    Nemea Bank sues majority shareholder over unpaid loan

    Lawsuit filed

    Nemea Bank filed a lawsuit against its majority shareholder, Nemea plc, seeking repayment of a €1.5 million loan and interest after the shareholder defaulted on loan payments.

    Source excerpt

    • The report says that the bank’s majority shareholder defaulted on the loan payments, leading the bank to call in the loan.
    • A lawsuit was filed against Nemea plc for the repayment of the loan and interest, with the first hearing scheduled to be held on Wednesday.
    • Nemea Bank has filed a lawsuit against its majority shareholder Nemea plc for defaulting on a €1.5 million loan taken out in February 2016.
    Source

  2. 2017

    Withdrawal of banking licence

    After the MFSA proposed withdrawal of the licence, the ECB withdrew it on 23 March 2017. The decision ended Nemea's operation as a licensed bank and led to compensation and liquidation proceedings.

    Source

  3. 2016

    Regulatory shortcomings and administration

    The MFSA reported serious regulatory shortcomings identified during joint inspections with the ECB and appointed PwC as administrator. Customer withdrawals were restricted, and new accounts and deposits were prohibited.

    Source