Awards for excellence - Latvia
Best debt house:
Best equity house:
Best M&A house:
In Latvia Parex Bank sweeps the board. It is the largest bank in Latvia and has increasingly improved its position in the Baltic market as a whole, offering services across the spectrum of banking: retail, corporate, investment management, trade finance, custody and payment services. Parex has very successfully ridden on the back of the emerging industries and companies in Latvia and the Baltics, providing the growing numbers of these firms and wealthier individuals with banking services.
As business has grown, so has Parex, with the bank broadening its range of products and taking advantage of new opportunities for cross-selling. The bank achieved a record profit in 2000, and its cumulative profit since 1993 is double that of the total profits of its main competitors in Latvia.
In the near future, Parex hopes to expand its position in the Baltic region, with the goal of becoming the region's top financial player in all spheres of banking. In retail, it is looking to expand its operations in Lithuania, as well as build up its activities in Estonia.