Parex banka                                                 03.05.2005. 



PRX: Magazine Global Finance names AS “Parex banka” as the best bank in Latvia 



Parex banka is today pleased to announce that it has received the title of 

“Best Bank in Latvia in 2005”, in the Annual Awards made by Global Finance, the 

prestigious international magazine. 



The Latvian title was awarded as part of Global Finance magazine’s survey of the 

Best Emerging Markets Banks in Central and Eastern Europe, published in the May 2005 

issue. The award winners have been chosen on the basis of input from industry analysts, 

corporate executives and banking consultants, according to factors such as  growth 

in assets, profitability, strategic relationships, customer service, competitive 

pricing, and innovative products.



Joseph D.Giarraputo, publisher and president of Global Finance said “We congratulate 

Parex Bank on once more winning the Best Bank in Latvia title. Its record in this 

award reflects the high esteem in which it is held by the international financial 

community”. 



Gene Zolotarev, Global Head of Investment Banking and Capital Markets commented: “It 

is already the second award we have received this year from Global Finance. We are 

proud to be named as the Best Bank in Latvia, especially as international banks seek 

to compete in the Latvian banking sector.  It is the eighth year in a row that Parex 

banka has maintained its leading position and it continues to build on it through 

rapid growth. International recognition is also important for us, as we continue our 

programme of international expansion.”



As of 31 December 2004, assets of Parex banka have grown by 33.2% and totaled 1 billion, 

363 million lats, capital and reserves have grown by 17.8% and totaled 124 million 

875 thousand lats. The volume of the attracted deposits has grown by 32.1% and totaled 

1 billion 58 million lats, lending has increased by 43.7% and totaled 640 million lats. 

Parex banka’s asset share in the whole Latvian banking system is 17.8%, more than 20.4% 

of deposits and 15.2% of issued loans.



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

reserves and fourth largest bank in the Baltic States.



International Communications Manager

Natalja Rodionova

Phone: +371 7010926