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 Tony Levin, then vice president of the Diners Club company, a member of the Citicorp group, arrived in Latvia from the U.S.A. to study the financial markets of the Baltic countries.
On May 14, 1992, Rietumu Bank was registered in the Register of Enterprises of the Republic of Latvia. In 2002, the Bank celebrated the 10th anniversary of its founding in Latvia.
In 2001, the Bank completed the reconstruction of its headquarters in Riga, becoming the most modern operations premises in Latvia. Not only did it meet all possible banking standards but, what’s even more important, it also presents their vision on how to serve the Bank’s customers. The same year Rietumu Bank opened four new branches: three of them in Riga; the fourth one in Liepaja - a rapidly growing seaport.
In 2008, the Bank continues to implement the long-term strategy of expansion and acquires companies in the CIS region: Rietumu Bank became a co-owner of WestLeasing Group operating in Russia and Belarus as well as of the Ukrainian brokerage company “Oschadna Companya” (ukr. “Savings Company”). The Bank’s fully-owned subsidiary – RB Asset Management – starts offering a wide range of asset management services, such as own investment fund, international investment funds portfolios and capital-protected structured notes. Rietumu Bank’s H.Q. Rietumu Capital Centre opens for all customers.
JSC Rietumu Banka has been operating in the Latvian financial market for over 15 years. Since its inception in 1992, Rietumu Bank has been focusing on providing custom-made, high value-added banking and financial services to businesses and high net worth individuals in the Baltic, CEE, CIS and other regions on a wide international scale.
Rietumu Bank is one of the prominent banks in Latvia occupying a stable position at the forefront of corporate and investment banking. The main factor behind Rietumu Bank's success is its business model of relationship banking based upon best international banking traditions.
The Bank has proven itself as a reliable and experienced professional and gained impeccable reputation among international customers and partners. Rietumu Bank’s position both in Latvia and abroad became even stronger after the acquisition of Saules Banka on July 1, 2001.
Rietumu Bank is a pragmatic and conservative bank with special attitude towards confidentiality of financial operations, new financial methods and technologies. At the same time, it is the Bank that speaks your language and is close to European partners.
Their main goal is to be an effective and reliable business partner for their customers.