Banks, Financial Services, Good for Business, Latvia, Transport

This jet, which complies with the most recent global private aviation standards, will be used for the needs of one of the biggest international customers of the bank, informs LETA.

Currently, Rietumu Banka is offering its customers, both in Latvia and other countries, funding for the purchase of private jets both for business and personal needs, as well as crediting against pledging a business jet already owned by the customer.

"Over the past years, private jets are becoming more and more in demand, including our international customers who are conducting their business in CIS countries, Europe and other regions of the world. We understand their interests and are planning to grant the required funding for purchasing business jets in the future as well. Taking into regard the prospects of this direction, it can be forecast that Latvia, which at present is an important international transport hub for private aviation, will also gradually become an international private aviation funding hub,” said Renats Lokomets, a board member of Rietumu Banka.

The developing servicing infrastructure is also fostering the growing popularity of private aviation. For instance, last year, FBO Riga, the biggest specialized business aviation terminal in the Baltic States, was opened in Riga.

Rietumu Banka specializes in servicing corporate customers with international business interests, as well as affluent private entities. The bank offers a complete range of financial services, including crediting and funding of trade operations. Rietumu Banka also provides funding of water transport (commercial vessels, motor and sail boats), and railway rolling stock. Rietumu Banka's representations and offices operate in Latvia, Russia, Kazakhstan, Armenia, Belarus, Ukraine, Romania, and Turkey.

Rietumu Banka is the third largest bank in Latvia in terms of assets.