Banks
Data published by Eurostat June 10 suggests that Latvia's banking, financial services and insurance sector remains a relatively small part of the economy compared with most EU peers, despite its high profile.
The Nordic Investment Bank – of which Latvia is one of the shareholders – said June 4 it had changed its rules so that it can now invest in military and defense projects, though not weapons and munitions.
Following an assessment and proposal by the Latvian Central Bank (Bank of Latvia) the European Central Bank (ECB) has decided to issue a credit institution license to JSC "Indexo Banka". The decision takes effect on Thursday, May 16, the Bank of Latvia said in a press release.
The sluggish lending by banks is widely cited as one of the problems of Latvia's economic underdevelopment. But, as the banks' own data show, this has the potential to change. There is interest in borrowing from both citizens and businesses, and the banks themselves are also interested in lending, Latvian Television reported on May 15.
ABLV Bank, which is in liquidation, asks the police to reimburse the costs of storing money seized during various investigations. Given that the amounts seized were impressive, so is the invoice to the State Police, Latvian Television's De Facto reported on May 12.
Latvijas Banka, the Latvian central bank (LB) said May 2 it has developed new "Guidelines for establishing and maintaining effective sanctions screening system" to support financial market participants in sanctions screening.
On Tuesday, April 30, the Latvian government considered the draft law "Crypto-asset services law", which will designate the Bank of Latvia as the competent supervisory authority that will issue operating permits to crypto-asset market participants.
A Member of the Council of the Latvian Central Bank (Bank of Latvia) and former Finance Minister Andris Vilks has passed, the Bank of Latvia told LETA April 29.
Latvian monetary financial institutions (MFIs), mainly banks, worked with a profit of EUR 161.9 million in the first three months of this year, which is 14.5% more than in the same period of 2023, according to the information released by the Bank of Latvia, LETA reports April 29.
The Nordic Investment Bank (NIB), Latvian bank Citadele and the Lithuanian biopharmaceutical company UAB Celltechna announced April 25 they have signed a ten-year financing agreement of EUR 37 million for a gene therapy product facility in Vilnius.
Latvias Banka (LB), the Latvian central bank, posted its financial results for 2023 on April 24, including an overall loss of 54 million euros for the year.
An annual poll has decided that Latvia's Coin of the Year 2023 is the coin "Stardust" dedicated to Imants Ziedonis, a distinguished poet and writer of Latvian culture.
Tuesday, April 16 will see the Latvian central bank (Latvijas Banka, LB) issuing another in its series of coins for collectors. This one is named 'Across the Times' and is dedicated the the Ethnographic Open-air Museum of Latvia.
The Supervision Committee of Latvijas Banka (LB), the country's financial regulator, said April 5 it had decided to impose a fine of 31,731 euros on Viktors Bolbats, former Chair of the Board of Baltic International Bank, which had its operations suspended more than a year ago.
The latest 'Payment Radar' data published by the Latvian central bank (Latvijas Banka, LB) contains some interesting data about the financial habits of the average Latvian resident.
On March 22, the Board of Governors of the Nordic Investment Bank (NIB) held its annual meeting in Tallinn, Estonia.
From March 19 to April 4, the Latvian central bank (Latvijas Banka, LB) is running its traditional public vote 'Latvia's Coin of the Year' for the 20th time.
The Latvian banking sector made a profit of EUR 622.215 million last year, which is almost twice as much as the profit of banks in 2022, according to data published by the Latvian Central bank (Bank of Latvia) on March 14.
On March 13, 2024, the supervisory committee of the Bank of Latvia annulled the license of Pūņi Cooperative Credit Union (Pūņi KKS), the bank said in a statement.
Latvia's residents deposit approximately 2 billion euros into Automatic Teller Machines (ATMs or bankomāti) annually. Such a large amount raises suspicions that some of that cash may be part of tax avoidance measures.
Former depositors of the insolvent AS PNB Banka who have yet to resolve any legal claims have been reminded of a looming deadline by the regulator, the Latvian central bank, Latvijas Banka (LB).
An attempt by Latvia to lure the headquarters of a new European Union anti-money laundering authority to Rīga failed February 22 with confirmation that it will instead be located in Frankfurt, Germany.
Thursday is the day when the location of a headquarters for a new European Union anti-money laundering authority (AMLA) will likely be decided, according to political news portal Politico.
Most people will have encountered a situation in which making a bank transfer from one bank account to another has seen the payment delayed for several days, with the funds apparently suspended in the ether before completion.
On February 7, the Bank of Latvia is hosting the Latvian capital market forum 2024 udner the slogan "Capable companies – a more capable country".
Baltic bank Luminor generated increased pre-tax profits of 51.7 million euros in the fourth quarter of 2023, a 10.7% increase on the same period a year ago period – but said its profits would have been bigger if it didn't have to pay so much in tax.
Latvian financial institutions, including banks, worked with a profit of EUR 573.5 million last year, which is 75% more than in 2022, according to information released by the Bank of Latvia, reports the LETA newswire.
Next week, on February 7, the Bank of Latvia will be hosting the Latvian capital market forum 2024 uner the slogan "Capable companies – a more capable country".
Latvia's Signet Bank has announced the dates for a regional tour designed to familiarize businesspeople outside Rīga with the workings and opportunities of capital markets.
In 2023, Swedbank Latvija, the largest commercial bank in Latvia, worked with a profit of EUR 274 million, which is twice as much as the bank's profit of EUR 132 million in the previous year, the bank reported January 24.
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