The stock company Parex Bank is implementing a new brand name today, May 10.  From now on, the company which is the only enterprise in the Baltic region and one of the leading companies in Central and Eastern Europe in terms of managing problematic assets will be known as Reverta.  The new brand marks out changes in the company’s visual identity, but it also represents a change in its status.  The lending institution is being turned into a professional manager of problematic assets.

“Changing the brand name was not a goal in itself,” says the board chairman of Reverta, Christopher Gwilliam.  “It is a logical and important step in the process of developing the company.  We will use the experience and specific knowledge that we have accumulated to establish this unique company in Latvia and the Baltic region – managing problem assets.  There are few specialised companies of this type in the international financial sector because, in most cases, problem assets are managed by the companies themselves, or they are divided up and sold off to investors.”

The company’s new visual identity can be seen on the Internet, because Reverta is opening its new corporate homepage today (www.reverta.lv).  Users of social networks will be able to follow along with news from Reverta via its new Twitter account.

Additional information:
The brand name that has been chosen is based on the Latin word revertō, which means returning in the broadest sense of the word.  The concept of returning has been chosen as the main symbol of the brand name, whether it refers to a return to basic operating goals or to the recovery of investments that have been made by the government.  The symbol is revealed by the emphasised letter V, which graphically displays growth and recovery after a decline.  Dark and negative trends are being replaced by light and positive ones.  The emphasis on the V also emphasises the semantic link to the Latvian words for value (vērtība), management (vadība) and state (valsts).

The new brand for Reverta was created by the integrated marketing communications agency Vivax Communications Group.

For more information:
Marita Ozoliņa-Tumanovska, Manager of
Communications and Marketing Department
Tel. +371-6777-9142 or (mob.) 29287169
marita.ozolina@reverta.lv