Rietumu Banka was established as a private bank in May 1992. The bank was developed as a Western style bank and its subsequent development has followed the best Western banking practices and philosophies. The founders of the bank combined many years banking expertise in a major American bank with local regional knowledge. The Management of the bank comprises a blend of local executives and Western executives with strong local banking knowledge.

Rietumu bank developed dynamically in the last five years or so, and now it ranks as the third largest banks in Latvia based on Total Assets. The Bank has recorded very strong profit growth each year and the profit of 1997 was 8,498,909 Lats, a return on shareholders funds of 93%. The capital base of the bank is strong with Capital Adequacy of 21% as of December 31, 1997. This places Rietumu bank amongst the ten largest banks in the Baltic States.

Rietumu bank believes that its clients need access to a full range of modern and reliable financial services, which should be carried out with the overriding concern for safety. Accordingly, the bank has developed a wide range of services and products, which can be broadly classed as "relationship banking". In providing these services, however, the bank is highly conservative especially in taking risk at all times. This philosophy has resulted in orderly and sustained growth over the last five years.

The clients of the bank are large corporates or high net worth individuals both residents and non-residents of Latvia. Recently, the bank has started to strengthen its client base amongst industrial and trading ventures with a view to building up ling term banking relationships with growing enterprises.

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The core of the bank's activities is in providing routine banking services such as payment execution for business enterprises. This has required having a modern efficient payments system at competitive costs. This is the first step in bank client relationships. Rietumu is very cautious in lending to economic ventures because of the real risks still prevailing in Latvia as in any other transition economy. Consequently, the bank only lends to clients which already have a strong banking relationship with us and where there is clear path to repayment. Trade finance is also provided for our clients. The bank services its corporate clients through a specialised Corporate Services Department, which will be a growing business activity of the bank. Finally, the bank provides Investment Services to clients who wish to invest in Financial Markets especially in the Bond and Equity markets in countries of the Former Soviet Union. The bank provides consumer type banking services to known clients such as Housing Mortgages, Credit cards services.

Rietumu aims to continue its growth and development through increasing our client base while at the same time by strengthening our financial position. We will build on our knowledge and expertise in the local markets to provide a wider range of services and products for clients. Internally, the bank will aim for the strongest degree of Management especially in managing risks.


24 hour Customer Service - telephone 7025555
7 Vesetas str. LV-1013, Riga, Latvia
telephone - 7025282
fax - 7025588
telex - 161234 RIET LV
teletype - 161771 ECHO LV
E-mail: info@rietumu.lv
Homepage of Rietumu Banka: www.rietumu.lv