The country’s financial institutions are working on consolidating the role of cash and the requirements for access to it with a law that would take effect in January 2025.
Recognising there is strength in numbers, Estonia, Latvia and Lithuania are joining together to created a pan-Baltic capital market, with covered bonds the first product planned. Michael Turner reports.
Latvian finance minister Dana Reizniece-Ozola outlines to Stefanie Linhardt the government’s plans to tackle the shadow economy and devise a fair and sustainable mid-term tax strategy.
Bulgarian lenders bucked the trend as Tier 1 capital contracted in most of central and eastern Europe, while Czech institutions retained their status as most profitable banks in the region.
Private equity investment in central and eastern Europe could be set to increase as investors look to capture the region’s potential as its economies return to growth.
Central and eastern European banks in the EU faced a sluggish 2013, but Poland led the region in terms of growth and the Czech Republic in terms of returns. Baltic banks are also starting to rise to the challenge.
With a deadline looming for the privatisation of state-owned Citadele, and the country's accession to the eurozone likely to squeeze profits in the banking sector, 2014 looks set to be a year of challenges for Latvia.
The Banker’s Finance Minister of the Year for Europe 2013 won his award thanks to a successful and determined fiscal adjustment programme. He explains how moving early is now allowing Latvia to look beyond austerity.
The eurozone's troubles of the past few years have meant that the headlines have been dominated by those countries deemed likely to leave the currency union. However, there are EU members that still wish to sign up to euro membership. The question is, why?
Flooded with Scandinavian liquidity during the boom years, Latvia has suffered the most severe bust in the EU and bankers are devising a new business model while clearing up the consequences of the old one. Writer Philip Alexander
The aggressive increase in residential and commercial real estate lending in the three Baltic states by Swedbank and SEB has left the two institutions painfully exposed to the market crash. Robert Anderson reports
Latvia has been the worst-hit of the three Baltic states following the global credit squeeze and economic slowdown. Bank of Latvia governor Ilmars Rimsevics tells Lara Williams how policy makers are responding to the challenges.
While Latvia has not been immune to the effects of the global economic downturn, it is keenly positioned to attract investors into the country when things pick up, says Olyga Ertuganove, senior analyst at Latvijas Krãjbanka.
Without an injection of millions of euros from the international banking community, Parex Bank would have gone under last November. But just six months on, Robert Anderson reports on Latvia's second largest bank's slow, but steady recovery.
Formed in 1992, Parex has seen off various crises to become Latvia’s second largest bank by selling itself as a channel into western Europe for Russian investors. Robert Anderson reports.
Competition for market share is tightening in Latvia’s banking sector. Some institutions are seeking organic growth at home, others are looking abroad for expansion opportunities. James Hydzik reports.
Lateko BankaSergey Gusarov, Chairman of the board of the JSC
Ben Aris reports on the banking sector surge in Estonia, Latvia and Lithuania, spurred on by EU accession and foreign interest in the market.