Banks
From January 1, 2023, the Financial and Capital Market Commission (FKTK) will be fully integrated into Latvijas Banka, the Latvian central bank, both bodies said in a reminder about the new arrangement Deceber 28.
The pension manager "Indexo" has submitted an application to the Financial and Capital Market Commission (FKTK) for a banking license, the company announced December 27.
As of 2 January 2023, the Cashier's Offices of the Latvian central bank, Latvijas Banka, will move from their current location at K. Valdemāra iela 1B, Riga, to Bezdelīgu iela 3, Riga.
The Financial and Capital Market Commission (the FKTK) said December 21 it had made a decision on
the procedure for the guaranteed compensation payments to the depositors of Baltic International Bank SE starting from 22 December.
the procedure for the guaranteed compensation payments to the depositors of Baltic International Bank SE starting from 22 December.
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.
Latvia's financial regulator the Financial and Capital Market Commission (FKTK) said in a surprise move Monday night it was suspending operations in one of the country's banks.
Latvijas Banka, the Latvian central bank, will issue a coin dedicated to Ukraine's fight for freedom, it said December 12.
Fraudsters have started to attempt scamming Latvian companies by faking invoices from company partners with bogus account numbers, Swedbank said on November 28.
Latvia's central bank said November 21 that Ukrainian refugees in Latvia should be aware of impending changes to the exchange rate between Ukrainian hryvni and euros.
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.
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.
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.
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.
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.
There has been no visible progress in negotiations between the Latvian Ministry of Finance with colleagues from the U.S. Department of the Treasury regarding the withdrawal of some statements which were presented in the 2018 sanctions decision taken by the U.S. against ABLV bank, LTV's De Facto reports.
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.
The Latvian central bank, Latvijas Banka (LB) has announced plans to host an international economic conference with the participation of European financial sector leaders to mark its centenary.
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.
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.
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.
During the first six months of 2022, the Nordic Investment Bank, in which Latvia has a stake, has seen a significant increase in demand for its financing, the Bank said August 26.
Latvijas Banka (LB), the Latvian central bank, said August 22 it will issue a 2 euro commemorative coin dedicated to Ukraine at the beginning of 2023.
The Board of Finance and Capital Market Commission (FKTK) has allowed AS 'PrivatBank' to transfer most of its assets to AS 'Industra Bank' according to a transitional agreement entered into by both parties, the FKTK said on August 10.
A pair of recently-merged banks have wasted no time in instigating some name changes, the LETA newswire reports.
The Financial and Capital Market Commission (FKTK) approved the merger of Signet Bank and Expobank, the commission said on July 11.
Industra Bank and PrivatBank have concluded an agreement, which provides for the transfer of PritvatBank's customers’ servicing, plus most of its assets and liabilities to Industra Bank, the bank announced July 8.
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.
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.
A 2 euro commemorative coin dedicated to the Erasmus program is to be issued by the Euro area's central banks, including Latvijas Banka (LB).
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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