LHV's bid for retail bank branch in Latvia approved ({{commentsTotal}})

Business
Business

The Latvian Financial Supervision Authority has given permission to LHV Bank, a cashless Estonian-owned bank, to open a Latvian branch.

Bank services will start to be offered sometime in the next few months.

To this point, LHV Bank's Latvian activity has been confined to being a registered cross-border service provider offering investment services, much as it does in Lithuania, where it made 600,000 euros in profit last year.

Now it will provide the full range of classic retail banking services - except for cash withdrawals, which will only be available through other banks' ATMs.

The branch will be headed by Maris Rambaks, who has been with the Latvian office since 2005.

LHV recently reported a 9.7-million euro profit in 2014, more than double the 4.3-million the bank earned in 2013.

Editor: K. Rikken



{{c.alias}}
{{c.createdMoment}}
{{c.body}}
{{cc.alias}}
{{cc.createdMoment}}
+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long
{{comment.captcha.word.answer}}

news.err.ee

Opinion
Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.