Capital city: Riga
Administrative divisions: 26 counties
Population: 2.3 million
Currency: Latvian lat (LVL)
Languages: Latvian (official) 58.2%, Russian 37.5%, Lithuanian and other 4.3%
Dialling code for int. phone calls: +371
Internet country code: .lv
The Latvian economy continues to weaken as a result of falling real estate prices, a dip in consumer spending and more expensive credit. The outlook remains gloomy with preliminary information for Q3 indicating that the economy may have further contracted, entering into a phase of stagflation expected to last over a year. The scope of the slowdown has also taken the government by surprise and threatens to create a budget deficit this year and next year. The rapid cooling of the economy is expected to bring some improvement in the inflationary outlook and a narrowing of external imbalances driven by weakening domestic demand and consumption growth.
Overall, the economy remains vulnerable to a financial crisis, although we still consider the risk of such a scenario materialising to be relatively low. The current rapid cooling – if it does not turn out to be deeper and prolonged – could indeed result in a reversal of the trend, opening the door for a gradual recovery in the economy.
There are 23 Banks in this Country.Its thought-out development strategy in combination with the flexibility and knowledge to respond effectively to changing market situations and client demands guarantee a stable growth and strengthen Aizkr ...
DnB NORD Banka is a universal bank, and due to successfully implemented strategy, beneficial financial products and high level of customer service the bank has become one of the leading banks in Latvian ba ...
AS GE Money Bank is a new bank in Latvia, which has been established by uniting the existing experience of AS GE Money and AS Baltic Trust Bank and adding the international experience of General Electric i ...
AS LTB Bank was established in 1991 and is one of the oldest banks in Latvia (Registration number 40003043232). The license issued by the Bank of Latvia is dated as 4th December 1991. At the moment AS LTB ...
AS Hansabanka, one of the leading commercial banks in Latvia, was established on 8 May 1992 under the name of German-Latvian Bank (Deutsche - Lettische Bank). In June 1996, the German -Latvian Bank became ...
The brand UniCredit Group is known all over Europe, therefore you can rely on their experience and support not only in the Baltic countries, but also in Europe. UniCredit Group with its dynamic, innovative ...
Baltic International Bank provides a personalized and top-quality range of banking services. Confidentiality, relations based on mutual trust and confidence, and a personalized approach to every customer & ...
White Investeeringute Grupi Pank AS (BIGBANK) is a bank branch in Latvia, which specializes in consumer lending to individuals.
BIGBANK is uzkatāma as one of the leading banks that provide credi ...
On 30 June 2008, Sampo Banka became Danske Banka.
Danske Bank started its activities in Latvia in 2007 when acquired Sampo Banka. Danske Bank Latvia branch is a part of Danske Bank Group. Danske Bank ...
The private bank JSC Akciju komercbanka Baltikums started its business in the 90s thanks to the joint efforts of present shareholders of Baltikums Bank and Insurance Group, who are experts in the marine an ...
Latvijas Krājbanka has a good reason to call itself the oldest commercial bank in Latvia. The bank was established in 1924, during the first period of Latvian independence.
In 2003, the privatis ...
In Latvian, "Rietumu Banka" means “Western Bank”. For the bank, it is more than a name - it is the essence of its business.
Rietumu Bank's history begins in 1992‚ when ...
Established in the Republic of Latvia in 1992, AS "Latvijas Biznesa banka" provides it’s clients, both private and corporate with an array of unique solutions and products. The majori ...
The Government of the Republic of Latvia founded the state-owned JSC "Mortgage and Land Bank of Latvia" (Mortgage Bank) on 19 March 1993 by order No 140 of the Cabinet of Ministers. At the moment ...
JSC "SMP Bank" was established as JSC "Multibanka" and registered in April 1994.
JSC "Multibanka" predecessor - Latvian branch of the Bank for Foreign Economical Affairs ...
The National Bank of Latvia is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law. The principal objective of the Bank of Latvia is ...
Nordea has strong local presence in Denmark, Finland, Norway and Sweden. Bank is represented in Latvia, Lithuania, Estonia and Poland, as well as in other cooperative countries, such as Great Britain, USA, ...
The Bank was established on 29 April 1992. Since that time the Bank has been successfully operating at the Latvian and international financial markets, offering its services to a wide range of clients &nda ...
Parex Bank was founded in 1992 and is one of steadily growing Latvian commercial banks. Parex Bank offers its clients integrated services in areas such as lending, payment cards, leasing, asset management ...
AS "PARITATE BANKA" (AS "PrivatBank" as of 16 August 2007) that was established in 1992, AS "PrivatBank" is now one of the oldest Latvian banks, well known to the business com ...
RIB is a new and dynamic bank that has secured a stable niche in the domestic market. They are a Latvian bank that offers its Customers individual service characterized by three values – speed, flexi ...
Trasta Komercbanka is a kind of a financial club for people aiming at success and non-stop development.
The end of the eighties and the beginning of the nineties introduced a new stage in the economi ...
J/C (Joint-Stock Company) "VEF Banka" (License Nr. 18, issued by the Bank of Latvia) began its activities in March 1992.
J/C "VEF Banka" has always paid attention to quality custo ...
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