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Economy and Banking Sector of Latvia

Major Banks of Latvia

#1: Swedbank"" AS

Swedbank AS is a universal bank offering retail, private and corporate banking products and services to both private individuals and companies with the focus on private individuals and SMEs.

Services
retail banking
corporate banking
leasing and factoring
Products
current accounts
payment cards
consumer loans
car loans
business loans
time deposit accounts
pension accounts
investment funds

In 2018 total assets of Swedbank"" AS were 5 834,90 mln EUR. In 2018 the bank's net income was 111,19 mln EUR.

Swedbank"" AS participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#2: ABLV Bank, AS

ABLV Bank is a private Latvian bank, established in 1993. ABLV Bank operates as a universal bank in Latvia, offering retail and corporate banking products and services to natural persons and business entities. The bank also offers financial advisory, asset and investment management solutions. Since June 2018 ABLV Bank is in voluntary liquidation.

Services
retail banking
private banking
corporate banking
wealth management
Clients
natural persons
self-employed professionals
wealthy families
expatriates
property owners
companies
Area Served
Baltic countries
CIS

In 2017 total assets of ABLV Bank, AS were 3 685,39 mln EUR. In 2017 the bank's net income was 51,21 mln EUR.

ABLV Bank, AS participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#3: AS "SEB banka"

SEB Banka provides a broad range of retail, private and corporate banking products and services to natural persons, business entities, corporations and institutions.

Business Focus
universal banking

In 2018 total assets of AS "SEB banka" were 3 705,76 mln EUR. In 2018 the bank's net income was 45,87 mln EUR.

AS "SEB banka" participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#4: AS "Rietumu Banka"

Rietumu Bank was established in 1992 and now is one of the largest banks in the Baltics States, specialized in retail, private and corporate banking for both residents and non-residents of Latvia.

Services
retail banking
private banking
corporate banking
Area Served
Latvia
internationally
Germany
Products
multiple currency accounts
payment cards
savings accounts
consumer loans
mortgage loans
business loans
trade finance
brokerage

In 2018 total assets of AS "Rietumu Banka" were 1 546,39 mln EUR. In 2018 the bank's net income was 33,66 mln EUR.

AS "Rietumu Banka" participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#5: Luminor Bank AS

AS DNB Banka was a universal bank offering a comprehensive spectrum of retail and corporate banking products and services to private individuals and legal entities. AS DNB Banka provided leasing and asset management solutions via its specialized subsidiaries. In 2017 AS DNB Banka was superseded by Luminor Bank AS, a joint venture of DNB and Nordea. Luminor Bank provides banking products and services to all customer groups with a special focus on small and medium-sized companies, as well as affluent private clients.

Business Focus
retail and corporate banking

In 2018 total assets of Luminor Bank AS were 4 691,99 mln EUR. In 2018 the bank's net income was 44,14 mln EUR.

Luminor Bank AS participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#6: AS "Citadele banka"

Citadele Banka is a Latvian bank, establlished in 2010 when good assets of Parex Bank were transferred to the newly created Citadele Banka. Citadele Banka provides retail and corporate banking products and services to domestic and international clients.

Services
retail banking
private banking
corporate banking
Area Served
Latvia
Lithuania
Estonia
internationally
Germany
Products
current accounts
debit cards
credit cards
savings accounts
consumer loans
mortgage loans
leasing

In 2018 total assets of AS "Citadele banka" were 2 329,98 mln EUR. In 2018 the bank's net income was 33,04 mln EUR.

AS "Citadele banka" is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Ba2 (non-investment grade speculative). AS "Citadele banka" participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100,000 EUR per bank per depositor.

See Also