Banks
International financial institution the Nordic Investment Bank (NIB) said August 24 it has opened a new regional hub in Rīga.
The Bank of Latvia supports the Ministry of Finance's intention to introduce mandatory payment of corporation tax (UIN) advances to banks at 20% of the previous year's profits, Latvian Television reported on August 14.
The next year's budget package will include a commercial bank excess profits tax, but it is necessary to assess which model to choose – the Estonian or the Lithuanian one, Finance Minister Arvils Ašeradens (New Unity) said in an interview with Latvian Radio on August 7.
Lending in Latvia is hampered by the large proportion of gray economy, which makes many businesses and households “unbankable”, Jānis Brazovskis, board member of the Finance Latvia Association, told Latvian Radio on July 20.
Although Latvia's economy is quite resilient, the labor market is rather strong and unemployment rates are very low, overall the economy will be very fragile this year, the Latvian central bank (Bank of Latvia) President Mārtiņš Kazāks said in an interview on Latvian Television July 6.
the Latvian central bank, Latvijas Banka (LB) said June 27 it will release a new collector celebrating the 150th anniversary of the Latvian Song Festival.
The US Office of Foreign Assets Control (OFAC) published a settlement statement on June 20 with Swedbank Latvia related to Crimea sanctions breaches.
Baltic bank Luminor has completed a €300m 4-year senior preferred bond issue, it confirmed June 12.
On May 30, Latvian central bank (Latvijas Banka, LB) will issue a special 2-euro commemorative coin dedicated to Ukrainian sunflowers – a symbol of peace and freedom, LB said in a release on May 23.
The Latvian central bank (Latvijas banka, LB) said May 3 it will put another special coin on sale on May 11. This time the theme is the much-loved poet Imants Ziedonis (3 May 1933–27 February 2013).
Monetary financial institutions of Latvia (MFIs), mainly banks, worked on profits of EUR 141.4 million during the first three months of this year, which is 76.7% more than during the same period of 2022, according to information published by the Latvian Central Bank (Bank of Latvia) on May 2.
From 24 April to 28 April, the Latvian central bank, Latvijas Banka (LB), is hosting a training session during which U.S. experts "will educate the representatives of Latvia's financial supervisory and law enforcement authorities on a risk-based supervision of the Latvian capital market," according to a release from LB.
The Latvian central bank, Latvijas Banka (LB) announced April 20 it has started publishing a regular overview of the deposit rates offered by commercial banks.
Latvijas Banka (LB), the Latvian central bank, has published its annual report for 2022, the bank said April 6.
The coin "Vilhelms Purvītis" has won the title of Latvia's Coin of the Year 2022 in the public vote organised by the Latvian central bank (Latvijas Banka, LB) and the news portal Delfi.
Every year, Latvian residents lose several million coins of one and two cents. They are dropped on the streets and lying around in drawers and pockets, and sucked up in vacuum cleaners. For this reason, the Latvian central bank (Bank of Latvia) intends to reduce the circulation of these nominals, Latvian Radio reported April 5.
The most recent (Spring 2023) "Payment Radar" report from the Latvian central bank (Latvijas Banka, LB) suggests that the ratio between non-cash and cash payments in Latvia was 67% to 33% in February 2023.
Latvijas Banka (LB), the central bank of Latvia, has released its first "sustainability disclosures report", outlining its efforts to promote sustainable development and addressing environmental, social, and governance (ESG) issues.
The Court of Economic Affairs has approved the liquidation application of Baltic International Bank submitted by the Bank of Latvia, the LETA news agency reported March 24.
The Latvian Central Bank (Latvijas Banka, LB) said March 16 it had submitted an application to the Economic Affairs Court to open liquidation proceedings with regard to Baltic International Bank.
On March 10, 2023, the European Central Bank (ECB) took a decision to withdraw the banking license of Baltic International Bank SE, according to a Latvian central bank (Latvijas Banka, LB) press release on March 13. The decision took effect on 11 March 2023.
February 8 is the day of the Latvian Capital Market Forum, which will be available to watch live online.
Most of the clients of the liquidated ABLV Bank have received the guaranteed remuneration, but several thousand have not applied for it, Latvian Television reported on January 26. The bank's liquidation process began about five years ago. Five years is the deadline within which customers of any bank in liquidation can apply for guaranteed reimbursements of up to €100 thousand.
The Latvian Central Bank (Latvijas Banka, LB) issued a reminder January 23 to former customers of ABLV Bank, AS, that they can apply for guaranteed compensation for just one more month, following the bank's liquidation.
Baltic regional bank Luminor has completed a €300 million, 3-year senior preferred issue, it confirmed January 17, a week after the bond's launch.
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.
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