List of banks in Latvia

Last updated

This list is based on information from Financial and Capital Market commission. [1] Latvia's four largest banks are Swedbank, SEB Group, Citadele Banka and Luminor. [2] In 2023, Swedish Swedbank and SEB Group held more than half of Latvia's banking market. [3] [4]

Contents

The largest banks and financial institutions in Lithuania, Latvia and Estonia are largely the same and mostly dominated by Swedish companies. [5] [6] [7]

Central bank

Commercial banks [8]

English nameCall nameLicence dateMajority OwnerCapitalWebsite
Akciju sabiedrība "Citadele banka" Citadele 30 June 2010 Ripplewood Advisors LLC Flag of Latvia.svg citadele.lv
Akciju sabiedrība "LPB Bank" LPB 5 September 2008Signet Bank AS Flag of Latvia.svg lpb.lv
Akciju sabiedrība "Reģionālā investīciju banka"RIB14 September 2001SKY Investment Holding Flag of Latvia.svg ribbank.com
Akciju sabiedrība "Rietumu Banka" Rietumu 5 September 2008Esterkin Family Investments Flag of Latvia.svg rietumu.com
AS BlueOrange BankBlueOrange12 June 2001BBG AS Flag of Latvia.svg blueorangebank.com
AS ExpobankExpobank16 December 1991 Expobank LLC Flag of Russia.svg expobank.eu
AS "Industra Bank"Industra6 May 1994J.A. Investment Holding Flag of Latvia.svg industra.finance
AS "PrivatBank" PrivatBank 31 July 1992 JSC CB PrivatBank Flag of Ukraine.svg privatbank.lv
AS "SEB banka" SEB 29 September 1993 SEB AB Flag of Sweden.svg seb.lv
Baltic International Bank SEBIB3 May 1993Belokon family Flag of Latvia.svg bib.eu
Luminor Bank ASLuminor2 January 2019 Luminor Bank Flag of Estonia.svg luminor.lv
Signet Bank ASSignet26 May 1992Signet Acquisition III LLC Flag of Latvia.svg signetbank.com
"Swedbank" ASSwedbank7 September 1998 Swedbank AB Flag of Sweden.svg swedbank.lv

Foreign commercial bank Latvian branches

[9]

Banks in Liquidation

[10]

Related Research Articles

<span class="mw-page-title-main">Nordea</span> Nordic financial institution

Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. The Nordic countries are considered Nordea's home market, having finalised the sales of their Polish bank in 2014, Baltic operations in 2019 and completed the exit from Russia in early 2022 following a 2019 decision to close the business there. Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US.

<span class="mw-page-title-main">SEB Group</span> Swedish financial group for corporate customers

Skandinaviska Enskilda Banken AB, abbreviated SEB, is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family, which is still SEB's largest shareholder through major investment company Investor AB. SEB is the largest Swedish bank by both market capitalisation and total assets.

Hansa Group or Hansabank Group was a banking group operating in Estonia, Latvia, and Lithuania owned by the FöreningsSparbanken/Swedbank, a Swedish bank. Following a decision taken by the Swedbank group on 15 September 2008, the name Hansapank/Hansabanka/Hansabankas or Hansabank internationally was discontinued end of 2008 with all operations rebranded under the Swedbank name. The legal name of the bank changed in spring 2009.

<span class="mw-page-title-main">Swedbank</span> Swedish banking group

Swedbank AB is a Nordic-Baltic banking group based in Stockholm, Sweden, offering retail banking, asset management, financial, and other services. Swedbank has a leading presence in Estonia and has a strong presence in Latvia and Lithuania.

<span class="mw-page-title-main">SEB Pank</span> Company based in Estonia

SEB Pank is an Estonian bank, owned by the Swedish bank SEB. SEB is the second largest bank in Estonia and is a member of the international SEB Group. Until 11 April 2005 the name of the bank was Eesti Ühispank, which was originally founded in 1992 from a merger of 10 smaller banks. On 7 March 2008, the bank changed its name to SEB Pank.

<span class="mw-page-title-main">SEB banka</span> Latvian subsidiary of Skandinaviska Enskilda Banken

SEB banka is one of the largest banks in Latvia and a part of the Swedish SEB Group. Nowadays, its main rivals in the Latvian banking market are Swedbank, Luminor and Citadele bank.

<span class="mw-page-title-main">SEB bankas</span> Commercial bank in Lithuania

AB SEB Bankas is a commercial bank in Lithuania. It is the Lithuanian subsidiary of one of the largest Swedish banks, the SEB Group.

<span class="mw-page-title-main">Danske Bank</span> Bank headquartered in Denmark

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Rietumu is a Latvian private commercial bank founded in 1992.

The Big Four is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained relevance. Some countries include more or fewer institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six.

A bad bank is a corporate structure which isolates illiquid and high risk assets held by a bank or a financial organisation, or perhaps a group of banks or financial organisations. A bank may accumulate a large portfolio of debts or other financial instruments which unexpectedly become at risk of partial or full default. A large volume of non-performing assets usually make it difficult for the bank to raise capital, for example through sales of bonds. In these circumstances, the bank may wish to segregate its good assets from its bad assets through the creation of a bad bank. The goal of the segregation is to allow investors to assess the bank's financial health with greater certainty. A bad bank might be established by one bank or financial institution as part of a strategy to deal with a difficult financial situation, or by a government or some other official institution as part of an official response to financial problems across a number of institutions in the financial sector.

<span class="mw-page-title-main">ABLV Bank</span> Bank in Latvia

ABLV Bank was one of the largest private banks in the Baltic States, headquartered in Riga, Latvia with representative offices abroad from 1993 to 2018.

<span class="mw-page-title-main">Citadele Banka</span> Bank based in Riga, Latvia

AS Citadele banka is a Latvian bank and financial and asset manager. The principal market of operation for the Citadele Group is the Baltic States.

<span class="mw-page-title-main">Bolt (company)</span> Peer-to-peer ridesharing, food delivery

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<span class="mw-page-title-main">Luminor Bank</span> Company based in Estonia

Luminor Bank AS is a bank headquartered in Tallinn, Estonia, with branches in Latvia and Lithuania. It is the third-largest bank in the Baltics and in Estonia. Luminor has a deposit market share of 16% and lending market share of 22%.

Banking in Estonia covers banking in Estonia. Banking started with the establishment of the central bank, the Bank of Estonia in 1919. It lost control during the Soviet period when banking was controlled from Moscow by Soviet powers. It was reestablished in 1990. As of 2022 it consists of the central bank and a number of commercial banks providing banking and financial services. Many of the commercial banks operating in Estonia are foreign banks primely from Scandinavia.

<span class="mw-page-title-main">Ekmel Cilingir</span> Turkish businessman

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References

  1. "FKTK - Home page". Archived from the original on 2016-12-25. Retrieved 2016-12-21.
  2. "Latvia's 4 largest banks undecided about appealing bill on support to mortgage borrowers". baltictimes.com. 2023-12-18. Retrieved 2024-01-05.
  3. "Industry data". Finance Latvia. 2022-10-27. Retrieved 2024-01-05.
  4. "Latvia". Major Banks of Latvia. Retrieved 2024-01-05.
  5. "Swedes poised to become Baltic banking leaders". baltictimes.com. 1998-11-26. Retrieved 2024-01-05.
  6. "Banks pile in to join Baltic boom". The Banker. 2005-07-03. Retrieved 2024-01-05.
  7. Hanson, Maivi (2007-04-17). "Overview of Baltic Banking Market". The Global Treasurer. Retrieved 2024-01-05.
  8. "Banks" . Retrieved 2021-12-15.
  9. "FKTK - Freedom of Establisment [sic]". Archived from the original on 2016-12-22. Retrieved 2016-12-21.
  10. "FKTK". FKTK.