 | |
| Industry | Bank Investment Services |
|---|---|
| Founded | September 2, 2008 |
| Founders | Heikki Niemelä Mika Lehto |
| Fate | License Withdrawn (Withdrawal may be appealed) |
| Headquarters | St Julians , |
Area served | EU/EEA region |
| Products | Nemea Instant Payment Savings Accounts Term Deposit Accounts Business Accounts |
| Parent | Nemea plc |
| Website | www |
Nemea Bank was a pan-European direct bank incorporated in Malta, providing banking and investment services to individuals, businesses, institutions and high net worth individuals based in the 31 countries of the European Economic Area (EEA). The bank is currently under administration and its license was withdrawn by the ECB on the 23rd March 2017.
As a direct bank, Nemea Bank did not operate any physical bank branches but provided all its products and services online. Nemea Bank was credited with developing the Nemea Instant Payment (NIP) product, which enabled real time global money transfers between Nemea clients at no cost.[1][2] On 27 April 2016 the bank was put under administration by the Malta Financial Services Authority due to "serious regulatory shortcomings" identified by the MFSA and the ECB in joint on-site inspections.[3] On 20 January 2017, the MFSA announced its decision to propose to the ECB the withdrawal of Nemea Bank's license.[4] The bank's license was eventually withdrawn on the 23rd March 2017.[5]
- ^ Erkko, Anni (July 28, 2010), "Toista tällaista ei ole". Kauppalehti. Retrieved March 16, 2015.
- ^ "How to Save Money Making International Payments". Moneywire. Retrieved May 12, 2015.
- ^ "Serious regulatory shortcomings identified at Nemea Bank plc - MFSA - The Malta Independent". www.independent.com.mt. Retrieved 2016-05-30.
- ^ "Withdraw Nemea Bank's license, MFSA tells European Central Bank". Times of Malta. January 20, 2017. Retrieved January 31, 2017
- ^ "Nemea Bank loses its banking licence". Times of Malta. March 24, 2017. Retrieved March 24, 2017