JSC Akciju komercbanka Baltikums signed an agreement on the sale of 49% of JSC Baltikums Apdrosinasanas Grupa.

The transaction amount is LVL 3,072,874.80 (EUR 4,372,306.93). The transaction will be settled by December 20, 2008 by one or many payments. The deal is related to separation of the insurance business from the bank.

The Bank’s strategy covers providing services to medium and large corporate customers and well-off private customers, and does not provide for retail banking. In accordance with such strategy, two main lines of banking have been chosen: corporate customer services – mostly their payments, trade and shipping finance, as well as financial markets and wealth management.


Uldis Zandars
JSC Akciju komercbanka Baltikums
Deputy of Head of the Product Development and Marketing Department
Tel.: +371 67704672, +371 29206536
E-mail: uldis.zandars@bank.baltikums.com