Banks, Financial Services, Latvia

Nordea Bank has attracted deposits with the total worth of LVL 394 million, which is 22% more, compared with the amount of deposits in the respective period of time last year. The bank's assets now total LVL 2.053 billion.

Bank's first six months' profit reached LVL 9.7 million. The turnover of Nordea Bank Latvia's branch amounted to LVL 22.3 million, which is 38.7% more than a year ago.

Head of Nordea Bank in Latvia Valdis Siksnis points out that for Latvia, 2008 has been a year of slowdown of the financial sector growth, however the bank does continue to develop and its figures significantly outpace the average market indexes.

"We are confident about successful development of Latvia in the long term and therefore we will continue to make investments in introducing new services and expanding our network of branches. We will also continue to invite young professionals to join our team," Siksnis underlines.

Nordea Bank branch in Latvia was opened in April, 1992 and was originally called Latvian Investment Bank, it was renamed Nordea Bank in 2001.

Also Nordea group's leasing company Nordea Finance operates in Latvia. Nordea shares are quoted in Stockholm, Helsinki and Copenhagen stock exchanges.