Currently, the State Treasury has a total of LVL 646.3 million in deposits at Parex banka, secured with relevant collateral.

 

Parex banka’s main priority is the return to the private sector as soon as possible. Additionally, the Management of the Bank has named its strategic objectives, which include the restructuring of the Bank to ensure a more efficient and economical functioning of the institution, as well as the provision of independent funding and capital adequacy level to facilitate the repayment of the state aid in the shortest possible time.

 

 

Founded in 1992, Parex banka currently employs some 2,000 people at branches all over Latvia and offers universal banking services throughout the Baltic region, the CIS and other European nations 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. Currently, the Latvian Privatisation Agency is the majority shareholder of Parex banka, holding 70.3% of the Bank’s shares, but 25% are controlled by the European Bank for Reconstruction and Development. Parex banka has signed up to the European Code of Conduct on housing loans.

 

 

For more information:

Inga Saleniece, acting director

Corporate Communications Department

Telephone: +3716777-8870 or +371 26564629

E-mail: pr@parex.lv