Banks
Latvian central bank supports new tax on banks
Latvian central bank supports new tax on banks
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.
Next year's budget will have bank excess profits tax
Next year's budget will have bank excess profits tax
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.
Latvian central bank president: economy will be fragile this year
Latvian central bank president: economy will be fragile this year
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.
Latvian central bank issues Ukrainian sunflower coin
Latvian central bank issues Ukrainian sunflower coin
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.
Ziedonis 'Stardust' collector coin to be sold
Ziedonis 'Stardust' collector coin to be sold
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).
Bank profits in Q1 up 77% from last year in Latvia
Bank profits in Q1 up 77% from last year in Latvia
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.
U.S. experts training Latvian officials on countering financial crime
U.S. experts training Latvian officials on countering financial crime
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.
Latvian central bank plans to battle loose change
Latvian central bank plans to battle loose change
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.
Cash makes a comeback in Latvia
Cash makes a comeback in Latvia
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.
Most ABLV bank's compensations paid out
Most ABLV bank's compensations paid out
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.
One month left for ABLV clients to claim compensation
One month left for ABLV clients to claim compensation
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.
Less than half of Baltic International Bank clients were Latvian residents
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.

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