Analytics, Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Tuesday, 18.06.2019, 10:19

Four banks provide services to most people in Latvia - survey

BC, Riga, 18.03.2019.Print version
Only four banks are providing services to most people in Latvia, shows a survey conducted by SKDS sociological research company for LETA.

Asked which banks’ services they have been using during the past year, 65.3% of respondents mentioned Swedbank, 33.3% SEB Banka, 23.6% Citadele and 15.7% named Luminor Bank.

Other banks have been significantly less popular, with 2.8% of respondents using the services of PrivatBank, 2.1% naming PNB Banka, 2.1% the Latvian branch of BigBank, 1.6% BlueOrange Bank and 1% Meridian Trade Bank. All other banks provide their services to less than 1% of the population.

The situation has remained largely unchanged from last year when Swedbank, SEB Banka and Citadele emerged as the most popular banks in a similar survey. In previous years, DNB Banka and Nordea were in fourth and fifth place, but their Baltic businesses have now been merged into a new bank, Luminor.

The survey was conducted in February 2019, interviewing more than 1,000 residents across Latvia.

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