About Us

AS Expobank, one of the oldest banks in the Republic of Latvia was established on December 6, 1991 (registration number 40003043232). AS Expobank license is issued by Financial and Capital Market Commission for credit institution operation.

 

Year 2011 was the twentieth year of operation for AS Expobank. Over these years, the Bank has established a stable and loyal circle of customers and a team of professional staff and expanded its operations by opening a branch in Cyprus in year 2010. The Bank has been providing fast, secure and high quality financial services to its customers operating in Latvia, Russia and other countries.

 

AS Expobank developed permanently and sustainably together with Latvia’s financial market. Bank’s main target is to be reliable and professional financial partner for its customers, ensure quality of safe and fast services and meet its liabilities immaculately by observing balance between customers’ interests in receiving financial services and profitable investing, as well as Bank’s shareholders interests in receiving profit from commercial activity and increasing its enterprise value. Bank is open for business cooperation and new customers’ attraction, successfully merging best practice of European banks, market knowledge and personalized customer service.

 

In early 2012 there were changes in the composition of the Bank’s shareholders and the citizen of Russia Igor Kim became the sole shareholder by acquiring 100% from the former shareholder OAO МДМ Банк.

 

In terms of today, changes in the shareholders allowed the Bank to extend the range of customer services by, for example, transactions structuring and management, developing technologies, a new and more user-friendly internet bank, new business relationships with the customers developing export to the CIS countries and Europe. The Bank will continue cooperating with customers from the CIS countries and Europe offering a tailored approach to each customer. The Bank plans to continue working on the optimization and improvement of efficiency as started in 2011. Our primary development principle shall remain unchanged – we wish to be a safe and efficient bank.

 

The Bank’s management notifies it’s shareholder, customers, business partners and society on annual results that indicate Bank’s stability under present changing economic conditions:

 

The Bank’s assets at the end of the year 2011 amounted 242,318 thousands LVL. The Bank places its deposits only in highly liquid and safe assets. The decline of interest rates on the financial markets to a minimum level impacted the Bank’s net interest margin.

 

The Bank’s operations in year 2011 have generated profit of 1,428 thousands LVL after taxes. Return on equity (ROE) amounted to 3.2%, while return on assets (ROA) was 0.6%. The second half of the year 2011 shoved growth of assets and ROE.

 

 

 In year 2011 the Bank paid particular attention to effective capital and asset management and risks in general, and also to improvement of the operating processes. Capital is managed by the Bank by setting a target range of internal capital adequacy rates which is treated as the measure for achieving the Bank’s strategic goals in capital management. The Bank maintained high capitalization and liquidity levels.

 

The Bank will continue to operate under the strategy of the parent bank by balancing the risks assumed by the Bank and providing quality financial services. Changes in the global economy affected all markets and their participants are factors binding to seek new ways and mechanisms of development.

 

AS Expobank is a reliable business partner for Latvian companies, especially for those business activities of which are connected with the markets of the Russian Federation and other CIS countries. The Bank will continue to work with large groups of customers, as well with other cuctomers carrying out their commercial activities in the Russian Federation and the international financial and commodity markets.