Dermot Desmond owns a 33% stake in Rietumu Banka. Photograph:  Dara Mac Dónaill

External auditors of the Dermot Desmond-backed Rietumu Banka in Latvia have highlighted that “material uncertainty” following a regulatory clampdown o(...)

Latvia’s prime minister Maris Kucinskis: the Baltic state sought to restore confidence in its scandal-hit banking sector.  Photograph: Yves Herman/Reuters

Latvian officials are due to hold an emergency meeting on Monday after the European Central Bank wound up the country’s third-largest lender, ABLV, wh(...)

Bank of Latvia governor Ilmars Rimsevics says he has  become the target of  Latvian commercial banks to destroy Latvia’s reputation. Photograph: EPA/Valda Kalnina

The head of Latvia’s central bank has denied bribery allegations and claimed he is the victim of a smear campaign by commercial banks in the Baltic st(...)

Bank of Latvia governor Ilmars Rimsevics: his lawyer has called his detention illegal. Photograph: Valda Kalnina/PA

Latvia’s financial reputation suffered a double blow on Monday, as its central bank chief was accused of bribery and its third-largest lender halted (...)

  Latvia Ilmars Rimsevics. Latvia’s finance minister said Mr Rimsevics should step aside for the time being to protect the Baltic country’s reputation. Photograph: Roman Koksarov/AP

Latvia’s anti-corruption agency has detained central bank governor Ilmars Rimsevics, prompting calls for him to step aside while he is under investiga(...)