Estonian Financial Supervision Authority granted Vereins- und Westbank AG permission to start a branch in Estonia
The Management Board of the Financial Supervision Authority decided at its meeting on June 16, 2004 to grant permission to Vereins- und Westbank AG (located at 22 Alter Wall, Hamburg, Germany D-20457) to open a credit institution branch in the Republic of Estonia.
The Estonian branch of Vereins- und Westbank AG is required to observe all Estonian laws and requirements concerning the operation of a foreign legal entity in Estonia.
According to the Credit Institutions Act, the branches of foreign credit institutions registered in EU member state are supervised by their home country's banking supervision agency.
Vereins- und Westbank AG is supervised by the German supervision agency Bundesanstalt for Finanzdienstleistungsaufsicht.
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