22.02.2005, Akciju komercbanka Baltikums, RIG

Akciju komercbanka Baltikums                            22.02.2005.



JSC “Akciju komercbanka Baltikums” has sold its building in Pardaugava 



The building in Riga, Kalnciema street 2a has been sold by JSC “Akciju komercbanka 

Baltikums”. The transaction was approved by the Land Register (LR Zemesgrāmata) 

of the Republic of Latvia on 22th of February 2005.



This art nouveau building was constructed almost hundred years ago and it needs a 

proper refurbishment. The JSC “Akciju komercbanka Baltikums” considers it to be 

inappropriate to perform the reconstruction of the building because of the fact 

that this will divert resources for investments atypical for banks.



The JSC “Akciju komercbanka Baltikums” believes that the current situation in 

the real estate market is the most advantageous for selling this piece of real estate. 

Resources that the bank is to obtain from selling the building will be directed to 

fulfillment of the bank’s strategic plans to develop its trade finance and shipping 

finance services. In addition this will allow the bank to allocate its capital 

resources more efficiently and to improve the quality of its balance sheet.



The bank headquarters will be located in the same place: in the Old Town of Riga. 

The bank provides its clients with car parking facility located close to the bank’s office. 

 



Chairman of the Board 

A.Reims



Tatjana Gaivoronska

Phone: 7031343