Parex banka                                                29.04.2005.



PRX: AS “Parex banka” has established representative office in Bulgaria 



Parex banka has established a representative office in Sofia, the capital 

of Bulgaria, thus becoming the first Latvian bank to be represented in 

Bulgaria. The office is directed by Andrejs Kameneckis, who has nine years 

of banking experience. 



By launching a representative office in Sofia, that was officially registered 

on January 19, 2005, Parex banka continues to strengthen its reputation in 

world markets. Similar to its representative offices in other countries, Parex 

banka’s representative office in Bulgaria will not carry out any business 

operations. It will focus on organizing of marketing events, providing the 

information about services offered by Parex group companies, investment 

possibilities in Latvia and the Baltic States, as well as in other countries, 

where Parex group companies operate. 



Commenting the opening of Parex banka’s representative office in Sofia 

Bulgarian honorary consul in Latvia Mairita Solima has noted: ”Assessing the 

actual economic situation in Latvia and Bulgaria, I can note that Latvia is at 

least 7 years ahead of Bulgaria. Parex banka as the only Latvian financial 

institution represented in Bulgaria provides Latvian entrepreneurs with an 

opportunity to realize in Bulgaria projects that they were unable to implement 

in Latvia. This would contribute to the economic development in the direction 

that is favourable for both countries. It should also be taken into account 

that the current strengthened economic cooperation between the two countries 

will become even more favorable for Latvia after Bulgaria’s accession to the 

EU.” 



“At the end of the last year, the volume of Latvian exports to Bulgaria 

doubled and reached 1 million LVL. By starting its activity in Bulgaria, Parex 

banka plans to enter the Balkan region. Bulgaria is one of the most developed 

countries of the region and we believe has a great potential. In essence, 

Bulgaria is a key to Balkans,” notes Andrejs Kameneckis, the Head of the Parex 

banka’s representative office in Sofia.



At the present moment Parex banka has 13 representative offices in 11 countries, 

a branch office in Estonia, as well as subsidiaries in Lithuania and Switzerland. 

Parex banka is the largest bank in Latvia in terms of assets, deposits and capital 

and reserves and the fourth largest bank in the Baltic states. 



International Communications Manager

Natalja Rodionova

Phone: +371 7778572