In 9 months of 2008 Parex Group posted LVL 13.2 million in profit. According to the financial data as at 30 September 2008, the Group’s assets stood at LVL 3.35 billion, the amount of loan portfolio was LVL 2.21 billion, the deposits comprised LVL 2.20 billion, the Group’s capital and reserves were worth LVL 216.3 million.

Parex Group owns representatives offices, branches and subsidiaries in 15 countries, including banking affiliates and customer services centers in Estonia, Germany and Sweden. Parex banka with its head office and three main branches located in Riga, Latvia is a core company of Parex Group. Parex Group’s subsidiaries operate in various financial markets sectors, including subsidiary banks in Switzerland and Lithuania, asset management companies in Latvia, Russia, Ukraine, Lithuania, Parex open Pension Fund in Latvia, leasing and/or factoring companies in Latvia, Lithuania, Estonia, Russia, Ukraine, Belarus, Azerbaijan, Georgia and finally life insurance company Parex Dziviba in Latvia. Parex Group offers to its customers integrated services in such sectors as lending, payment/credit cards, leasing, asset management and securities trading.

On 10 November 2008, an agreement allowing Parex banka to receive financial support from the Latvian Government was signed by Atis Slakteris, Minister of Finance, Inesis Feifers, president of the state-owned joint-stock company Mortgage and Land Bank and Parex Banka’s main shareholders Valerijs Kargins and Viktors Krasovickis. Under the terms of this agreement, subject to fulfilment of certain conditions precedent, 51% of Parex banka’s shares will be taken over by Mortgage and Land Bank – a commercial bank with a 100% state capital. No merger between Mortgage and Land Bank and Parex banka will take place. Both banks will continue to operate as separate financial institutions – each with its own management and business divisions. No decisions about the further development strategy of the Group have been made yet, however, the customers and providing them with a high-level service, while restoring and strengthening the confidence in Parex banka remain a firm priority, which will be substantiated and supported by the presence of the Sate as the majority shareholder and the guarantee of security.

Parex banka is assigned the following international ratings: Moody's Investors Service – Ba1, Fitch Ratings – BB.