On 24 February 2009, the Latvian Government made a decision to transfer 85,14 % state-owned shares of Parex banka into holding of the Latvian Privatisation Agency.

 

Government decision to hand over its shares to the Privatisation Agency was made to ensure further professional actions and prepare the Bank for capital increase and potential sale of the Bank. The decision will come into force upon receiving an approval by the Management Board of the Bank and after signing the respective agreements.

 

Being founded in 1992, Parex banka offers universal banking services throughout the Baltic region, the CIS and other European countries such as Germany, Switzerland and Sweden. Parex Group companies operate across the banking, finance, leasing, asset management and life insurance sectors. Parex banka is the only partner of American Express in Latvia and Lithuania, allowed to issue American Express credit cards. Since 05 December 2008 the State owned Mortgage and Land Bank of Latvia is the majority shareholder of Parex banka.

 

 

Indra Zinkevica

Head of Corporate Communications and PR

Phone: +371 67778571

E-mail: pr@parex.lv