lv

Press Release of November 2, 1998

  

Pursuant to Article 93 of the Law "On Credit Institutions", banks that are allowed to attract private persons' deposits must publish their balance sheets as of the end of the first, the second and the third quarters in the newspaper Latvijas Vestnesis by May 1, August 1 and November 1 respectively.

The banks that are at present allowed to attract private persons' deposits are ranked by the balance sheet item "Equity" as shown on their September 30, 1998 balance sheets published in the newspaper Latvijas Vestnesis.

 


No. Name of the bank Equity
(in thousands of lats)

1. Parekss-Banka 36 986
2. Latvijas Unibanka 32 060*
3. Rietumu Banka 20 253*
4. Rigas Komercbanka 15 284*
5. Baltijas Tranzitu Banka 13 284*
6. Vereinsbank Riga 11 297
7. Aizkraukles Banka 7 741
8. Saules Banka 7 380*
9. Latvijas Hipoteku un Zemes Banka 6 811
10. Latvijas Krajbanka 6 574*
11. Hansabank - Latvija 5 983
12. Latvijas Zemes Banka 5 601
13. Banka "Paritate" 5 002
14. Latvijas Investiciju Banka 4 939
15. Ventspils Apvienota Baltijas Banka 4 012
16. Maras Banka 3 770
17. Trasta Komercbanka 3 364*
18. Latvijas Ekonomiska Komercbanka 3 240*
19. VEF Banka 2 982
20. Rigas Naftas un Kimijas Banka 2 782
21. Multibanka 2 453*
22. Latvijas Tirdzniecibas Banka 2 427
23. Ogres Komercbanka 2 339
24. Riga Branch of "Societe Generale" not stated separately

* As the negotiations with Russia have yet to result in a concrete agreement about restructuring and scheme for repayment of its foreign and internal debts, and as the ability of Russian banks to meet their liabilities is not clear, at present there co-exist several alternative methods for evaluating the capital and reserves of the banks involved in transactions in Russia. The Bank of Latvia considers that a bank has failed to evaluate its assets by taking into account prudence.

We would like to stress once again that, when deciding whether to place your funds with any particular Latvian bank, you should first and foremost assess the development of its equity, i.e., compare it with the data on the previous quarters.