Latvijas Krajbanka                                            29.10.2004. 



JSC “Latvijas Krājbanka” next year has intended to start offering several 

new products



JSC “Latvijas Krājbanka” next year has intended to start offering several 

new products, among which in addition to the insurance of risks to begin to 

offer services of life insurance.



In the already existing co-operation with the risk insurance companies “Balta” 

and “Baltijas Apdrošināšanas nams” (BAN) to the clients the products of 

non-life insurance are available.



At the beginning of the next year “Krājbanka” plans to start offering the 

services of accruing insurance of life, which is one of the products that 

we want to offer to our predominant market segment – private persons, 

because the accrual life insurance is one of the main elements in the entire 

complex of Bank’s services. By offering the life insurance services, the Bank 

has intended to co-operate with one of major insurance companies of the 

European Union’s countries.



“Krājbanka” also next year will continue the development of the business of 

payment cards and electronic banking system, investing into it a considerable 

part of funds, but already this year the credit cards Visa Classic and Visa 

Gold from the magnetic band cards will be migrated to the smart cards, which 

have a much higher degree of data security and thus also of protection of the 

monetary resources of clients.



“Latvijas Krājbanka” during the first nine months of this year has worked with 

the profit of 645 thousand lats, which by 15% exceeds the result of the nine 

months of previous year, but in the previous year in total the Bank earned 

862 thousand lats.



“Krājbanka” as to the volume of assets at the end of August occupied 10th place 

among 23 commercial banks of Latvia. The largest shareholders of the Bank are 

enterprises of Ventspils, “Doxa Fund Limited” registered in the British Virgin 

Islands as well as several private persons.



“Latvijas Krājbanka” in 2006 plans to move to the new administrative office 

building where it is planned to concentrate the entire central administration 

of the Bank. 



At present in Riga the Bank’s administration is located in eight buildings 

in total, and the ground floors of these buildings house also the client 

servicing centres. Most probably they will remain there and only the upper 

floors. At the same time the Bank’s Management admits the possibility that 

“Krājbanka” for running of its immovable properties a separate daughter 

enterprise could be formed. In total in Latvia “Krājbanka” has about 25 buildings.



Currently the Bank does not plan to substantially extend or reduce the network 

of client servicing centres, but wants to perfect its quality. The basic 

direction of perfection of the network – to provide to the private persons 

full-range financial consultations.



Chief Executives of “Latvijas Krājbanka” have decided to situate the Bank’s 

management in a united office building located not far from the Riga’s centre 

and easily accessible by the city traffic. For implementation of this objective 

the Bank announced an open tender with the application term till October 1, in 

which the winner was the enterprise “ERD – projekts” of the Construction Company 

“Merks” that intends to construct a many-storey building near the hockey hall 

currently being constructed in Skanstes Street till December of 2006.



At present the management’s work premises of “Krājbanka” are located in several 

places in Riga, also in the historical building of the Bank at the Doma square, 

Jēkaba Street 2.



“Latvijas Krājbanka” currently performs the servicing of clients in 75 locations 

in Latvia.



The potential for growth of crediting volume of “Latvijas Krājbanka” next year 

could be slightly large than in this year – coming year the credits could increase 

by 25 million lats.



At the moment “Krājbanka” is oriented to a complex servicing of clients, striving 

to offer in the entire network of servicing centres a services’ basket of as 

extensive scope as possible, also in Riga and elsewhere in Latvia. In all l

ocations of client servicing the Bank is able to offer the electronic banking 

and crediting products, first of all, they are consumption credits whose 

collateral is the regular income.



The Bank’s objective is to occupy definite positions in the local market, namely 

in the market of private persons in Latvia. It means that for “Krājbanka” the 

positions of the top five banks are topical, and as to the deposits in the local 

market and amount of clients, volume of cards “Krājbanka” already now complies 

with the indicators of the top five commercial banks.



The net value of the credits granted by “Latvijas Krājbanka” at the end of 

September reached 115.2 million lats, which is by 20% or 19.2 million lats more 

than at the beginning of the year. But at the end of the previous year “Krājbanka” 

in credits had granted 96 million lats, which is by 4.6 million lats or 5% more 

than at the end of 2002.



Līga Krapāne, 

Head of the Department of 

Public Relations and Advertisement 

“Latvija sKrājbanka”, 

Telephone 7 092 055, 9 480 299