Brussels, 16/04/2014 (Agence Europe) - On Wednesday 16 April, the European Commission announced that it has opened an in-depth investigation to assess whether the additional state support measures granted by Latvia to AS Parex banka (rebranded “Reverta”) and AS Citadele banka in the context of their restructuring were in line with EU state aid rules. During the financial crisis, the Commission approved a rescue and restructuring package in favour of what was then Parex banka, which was split into a good bank (named Citadele banka) and a bad bank, Parex, later renamed Reverta. The restructuring plan was further amended in August 2012 with the Commission's approval. In 2013, the Commission identified additional aid measures that Latvia had granted to Parex and Citadele, which had not previously been notified to the Commission - in breach of member states' obligation to do so under EU state aid rules - or went beyond what had been approved by the Commission. Based on the information provided by Latvia at this stage, the Commission has doubts whether the additional measures are in line with the rules on state aid to banks during the crisis. In particular, the Commission has concerns that the additional measures were not limited to the minimum necessary. (EL)