Lateko Banka wins on strong profit growth, which soared by 224.36% last year, while ROE nearly doubled to 36.62% in the same period. This was no mean achievements in a market with 23 banks competing for business. In 2004, this leading Latvian bank was squarely focused on improving services to its customer base and broadening its range of products, supported by new technology solutions.
Latvia’s accession to the EU has provided dramatic new growth opportunities for a bank that has already been identified as one of Central Europe’s most dynamic. “By placing the emphasis on providing an individual and personalised service to our customers we have become one of the most popular and successful banks in the Baltic region, with a rapidly expanding customer base ranging from private individuals to large multinational enterprises,” says the bank’s CEO Sergey Gusarov.
“We have risen to the challenge of competition by focusing on key areas to produce convenient, user-friendly and accessible banking for our customers. Our FX, trade finance, credit and lending businesses are widely regarded as leaders in the field, catering to the needs of individuals, companies and other financial institutions.” Lateko Banka aims to build on its success by developing new technologies and services for its customers.
