Nemea Bank client withdrawals limited to €250 per day

Nemea Bank clients have been informed by the bank that withdrawals are being limited to €250 per day for each client until further notice. The bank, which operates from Portomaso, has been put into administration after a number of serious regulatory shortcomings were identified. It has been prohibited from opening new accounts and accepting new client deposits into accounts. Clients were informed that the precautionary measures would remain in place until the Malta Financial Services Authority directed otherwise. Clients with questions or concerns can call 2570 8100 to speak with the bank. The bank said it was a member of the Maltese Depositor Compensation Scheme, which protects deposits of up to €100,000 per client.