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, flexibility and competence.
RIB was granted its licence on 14 September 2001 and regards its official founding date as 28 September 2001.This is when the company was registered in the Company Register of Latvia. The bank found premises in 2002 and moved its activities to its current legal address, 2 J. Alunāna Street, Riga.
2005 in history of the bank can be considered a stage of successful growth and rapid development. The most important financial indexes have grown from 100% to 200% this year, and the bank occupies leading positions by profitability among competitors in Latvia, its ROA index was 3.05 % and ROE was 24.8% as of the 31st of December 2005.
In year 2007, the Bank significantly increased its core capital, which currently totals 8.2 million LVL. Due to these changes the Bank’s own capital also increased to 10.24 million LVL.
At the start of the year a new accounting program was introduced at the Bank. It ensures faster turnover of bank transactions, improved and optimized Client service and increased data security.
In December the Bank opened a representative office in the Ukrainian city of Dnepropetrovsk, thereby facilitating future growth in the Bank’s transactions and quantity of Customers in Ukraine.
The services of the bank are used by individuals and legal entities, and by both Latvian residents and non-residents. As a result of their long term business contacts and working relationships with companies and other organisations in Ukraine the bank can offer Customers the best terms and conditions for working with companies there.
The future strategy of the RIB anticipates attracting new Customers in the domestic and international markets as well as improving their existing range of services for all Customer groups.
The bank believes it is important to listen to the needs and desires of their Customers. Only by analysing situations and understanding the needs of their Customers can they offer the most beneficial solutions and professional advice. The bank always writes the word Customer with a capital letter. This is not simply a formality – it presents the sincere attitude of the bank to its Customers.