Banks
Less than half of Baltic International Bank clients were Latvian residents
Baltic International Bank, whose operations have been suspended in accordance with a decision of the Financial and Capital Market Commission (FKTK), has about 1,580 clients with deposits with the bank, of which about 700 are Latvian residents, the commission's chairwoman Santa Purgaile said at a press conference on Tuesday.
Latvian financial sector still seen as "risky" by some
The Latvian banking sector, which is trying to regain international trust after extensive reforms to the financial system, must now expect extra attention due to Russian sanctions and related issues, LTV investigative show De Facto reported November 6.
CEB says it is ready to support Latvian infrastructure development
The Council of Europe Development Bank (CEB), which currently participates in financing the construction of the University of Latvia’s (LU) eye-catching House of Letters, said November 3 it is ready to continue supporting infrastructure projects in the Baltic countries, particularly wth regard to ensuring sustainable development and climate neutrality.
Financial institutions update ATM access agreement
The Latvian central bank (Latvijas Banka), industry body the Finance Latvia Association and the banks with the widest network of ATMs and branches in the country – Swedbank, SEB, Luminor and Citadele – have agreed to continue implementing measures ensuring access to cash for residents of Latvia in 2023, the central bank said in a release October 31.
Coin marks centenary of Latvian central bank
The Latvian central bank, Latvijas Banka (LB) revealed October 28 that it will release a special coin to mark its own centenary. 1 November 2022 marks the 100th anniversary of the establishment of Latvijas Banka.
Latvian central bank conference upcoming
The Latvian central bank, Latvijas Banka (LB) is gearing up for its annual conference on November 3, which will feature the participation of European financial sector leaders to mark its centenary.
Banks ready to erase pre-2008 crisis debts; debtors hiding abroad
About half a billion euros have been borrowed in the so-called 'fat years' before the 2008 economic crisis, and still owed to banks by those hit by the crisis. Banks are now allowed to unilaterally delete these debts, but a large proportion of debtors have chosen to escape from this trouble by moving abroad, Latvian Radio reported on October 18.
Citadele bank warns businesses about sanctions evasion
Latvian bank Citadele said September 13 that attempts by businesses to circumvent or evade sanctions imposed on agressor states Russia and Belarus will ultimately prove extremely counter-productive to those doing so.
Blackstone buys even more of Luminor
With the purchase of 11.6% of Luminor Holding from Nordea, a consortium led by private equity funds managed by Blackstone now owns 80% of Luminor Holding (the parent company of Luminor Bank), according to an announcement September 1. 
Nearly 2 million payments made per day in Latvia
350 million customer non-cash payments totalling 118.8 billion euro were executed by Latvian payment service providers (credit institutions, electronic money institutions, payment institutions, credit unions, Latvijas Banka and the Treasury) in the first half of 2022, the Latvian central bank (Latvijas Banka, LB) said August 26.
Citadele bank offers accounts to Ukrainian refugees via mobile app
Citadele bank said July 6 that since Russia invaded Ukraine in February, it has received 4,200 applications to open accounts from Ukrainian citizens in the Baltic states as war refugees. "To ease the application process for Ukrainians and offer them a more up-to-date digital experience, they will now be able to open an account remotely through the Citadele mobile app," the bank said.
Luminor buys Estonian e-commerce company Maksekeskus
Baltic regional bank Luminor Bank AS has announced that it has completed the acquisition of 99% of the shares of Maksekeskus (MKK), an e-commerce payment service provider in the Baltic region.
Latvian central bank ups inflation forecast to nearly 15%
On June 10 the Latvian central bank Latvijas Banka (LB) raised its inflation forecast for 2022 and 2023 – the central bank estimates consumer prices will rise by 14.8% this year instead of the previously estimated 9.5%, while next year – by 7% instead of the previously forecast 3.7%.
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