Latvian Finance and Capital Commission permitted the Municipal Bank of Moscow to buy more than 50% of the shares of Latvijas biznesa banka, the Chairman of which informed a local news agency that the Bank of Moscow is a strategic investor that will own 99.54% of the Latvijas biznesa banka's capital. The Bank of Moscow has Moscow government as its main shareholder. Until now the 99.54% of the Latvijas biznesa banka's shares belonged to the Mosbusinessbank, the rest being owned by Latvian individuals.
The Latvijas biznesa banka's equity is $4.5 million, and according to the Latvian Banks Association, it was the bank No 21 out of the 23 banks operating in Latvia.
After it turned out that Deputy Prime Minister Andrei Belousov included the Fonbet betting company in the list of backbone enterprises that can count on state support, everyone started talking about these bookmakers.