Ukrainian credit histories now accessible in Latvia

Take note – story published 1 year ago

The Latvian Credit Information Bureau (CIB) said June 1 it has concluded an agreement with the International Bureau of Credit Histories of Ukraine (Міжнародне бюро кредитних історій) on the exchange of data on the credit history of citizens of Ukraine.

The move should potentially help Ukrainians in Latvia get access to credit and make lenders more willing to lend. 

The service allows Latvian companies to confirm identification data and check credit history before opening an account or entering into an agreement with citizens of Ukraine.

“This service will facilitate the integration of Ukrainian refugees in Latvia by allowing Latvian businesses and credit institutions to verify their identity and residential address in Ukraine, as well as obtain information about a particular person’s credit obligations, or lack thereof, in Ukraine," said Intars Miķelsons, Board Member of AS Kredītinformācijas Birojs. 

The database contains information about almost 15 million individuals and 54 million loan agreements with positive and negative credit history from the banks and other lenders, including tax identification number, declared and actual place of residence in Ukraine as well as contact information of Ukrainian phone numbers. 

In order to receive data, a Latvian enterprise needs to conclude an agreement with the IBCH, while a citizen of Ukraine must give permission to use his or her data by signing a consent form.

Like residents of Latvia, citizens of Ukraine can also receive their credit history free of charge now at the premises of AS Kredītinformācijas Birojs (Gredu Street 4a, Riga) on presentation of a valid passport issued by the state authorities of Ukraine.

JSC “Credit Information Bureau" (KIB) is a part of the world’s largest credit information and risk management solutions providing group “Creditinfo Group" and it aims to reduce the financial risks of companies and individuals.

KIB was founded in May 2013 and is the first licensed credit information office in Latvia, licensed in the data processing field and supervised by the Data State Inspectorate.

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