Latvian bank to open representation in Yerevan

22.11.2011 11:37
Latvian bank to open representation in Yerevan

YEREVAN, November 22. /ARKA/. Latvian Rietumu Banka will open a representation in Yerevan on Tuesday, the chairman of the Central Bank of Armenia Arthur Javadyan said Monday. He said the Central Bank of Armenia registered Latvian bank’s representation on November 21.

"The representation will serve the interests of our future cooperation," Javadyan said during a reception organized to mark Latvia’s National Day.

He said the opening of the representation office is an important event in the financial life of the country.

Rietumu Banka is one of the first private banks in Latvia operating since 1992. It is one of the largest banks in the Baltic states, specializing in servicing the private sector. The Bank is active in international markets and offers a full range of financial services to clients in the Baltics as well as through its representative offices in Russia, Belarus, Ukraine, Kazakhstan, Romania and France. Rietumu Banka’s profits for 2010 was 4.6 million euros, the capital adequacy ratio was 17.82% and liquidity ratio 58.13%. -0-


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