Year 2001-2006

RIB* was granted its licence on 14 September 2001 and regards its official founding date as 28 September 2001.This is when the company was registered in the Company Register of Latvia. The bank found premises in 2002 and moved its activities to its current legal address, 2 J. Alunāna Street, Riga.

The shareholders of the bank changed in 2003. The new shareholders decided on a developmental strategy to increase its Customers and to increase the range of financial services offered. The bank introduced a documentary operations service for Customers in 2003 - in which the
Trade finance product was improved.

2003 saw an important development in the history of the bank – it began to work with the Bank of Ukraine Pivdennyi Bank. This bank is the largest that Investīciju Banka works with and services 70 000 Customers in Ukraine.

The bank began to offer its Customers Loans for increasing working capital in 2004. This type of loan became very popular with Customers and made up almost 80% of the total credit portfolio of the bank in 2004.
The number of employees of the bank has also continued to grow and the bank pays particular attention to the improvement and development of its internal business processes.

2005 in history of the bank can be considered a stage of successful growth and rapid development. The most important financial indexes have grown from 100% to 200% this year, and the bank occupies leading positions by profitability among competitors in Latvia, its ROA index was 3.05 % and ROE was 24.8% as of the 31st of December 2005.
In 2005 the bank opened a representative office in Odessa in Ukraine, received a license of Eurocard MasterCard for issue of payment cards, put in order business processes in the field of credit services, money laundering prevention and in the field of risk management, and increased the number of employees for 50%.

In 2006, the bank started issuance of Eurocard MasterCard Maestro, Mass, Business and Gold debit and credit cards; a new document verification electronic device was introduced; and the bank’s Internet home page was launched. 
Twice during the year of 2006 – at the beginning and the end – the bank increased its equity for 66.67% total. At the end of 2006, it amounted to EUR 7,900,000.
In October, the bank successfully completed the campaign of bond sale to investors, which was organized by Parex banka. Issued bonds were for the amount of EUR 4,000,000 with a two-year maturity and annual interest rate of 6-month Euribor + 3.25%.
Despite the fact that profit of the bank in 2006 was EUR 835,000, the year was successful: major financial indicators went up significantly and so did intangible gain that is related to creating new products, building a team of professional employees and increasing the number of loyal customers. 

* In the Register of Enterprises of the Republic of Latvia bank is registered as Joint stock company „Regionala investiciju banka”

About the Bank



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Deposit rates

Term   USD EUR 6 months   0.55 - 1 year   1.25 0.75 5 years   2.00 1.00