Parex banka                                                       28.10.2005.



Nine months financial results of Parex banka

 

First nine months of 2005 were successful for Parex banka’s financial operations, 

the profit of the Bank reached 19,027 million lats,  two times more than in the 

same period last year. 

Parex banka’s assets have increased by 14,9%, comprising 1,607 billion lats, 

accordingly the Bank’s asset size is the third largest among Latvian banks by 

the size of assets, accounting for 16.4 % of the total assets of Latvian banks. 

Likewise, the amount of issued loans has increased by 12.9%, reaching 752,822 million 

lats. Currently, Parex banka loans are according for 12.3 % of the total loans issued 

by all Latvian banks over the period. 

Since beginning of 2005 deposits of Parex banka were up 2,9%, comprising 1,073 billion 

lats. Parex banka’s market share in terms of deposits accounts for 18,4% from all 

deposits in Latvian banks. Moreover, capital and reserves of Parex banka have 

increased by 15,9% in the first nine months of 2005, reaching 144,746 million lats. 

Parex banka is one of the leading banks in the Baltic States, offering integrated 

client services including lending, payment card services, leasing, asset management 

and securities brokerage. The Bank is represented in 16 countries through its network 

of representative offices, branches and subsidiaries, including a subsidiary in 

Switzerland, AP Anlage und Privatbank AG. Parex banka – is an exclusive issuer of 

American Express credit cards in Latvia. 

Parex banka is rated Ba1 by Moody's Investors Service, BB+ by Fitch Ratings and 

BBB- by Capital Intelligence.



Additional information:

Indra Zinkevica

Head of International Communications department

Ph. (371) 777 8571