Greensill Bank says it immediately complied with German watchdog’s request over asset classification

FILE PHOTO: The Greensill Bank is pictured in downtown Bremen

ZURICH (Reuters) – Greensill Bank said on Wednesday it had immediately complied with a request by Germany’s financial watchdog BaFin after it raised concerns late last year over accounting practices.

“In late 2020 and early 2021 the BaFin advised that they did not agree with the way the assets were classified by Greensill Bank and directed that they be changed,” Greensill said in a statement.

“In accordance with Bafin’s request, Greensill Bank immediately complied and changed the way the assets are classified.”

(Reporting by Arno Schuetze; Writing by Brenna Hughes Neghaiwi; Editing by Jan Harvey)