Latvijas Krājbanka

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Latvijas Krājbanka
Joint stock company
Traded asNasdaq BalticLKB1R Nasdaq BalticLKB2R
IndustryBanking
FateIn liquidation
PredecessorLatvian Postal Savings Bank
Founded1924
Headquarters,
Number of locations
155 service centres[1]
Area served
Latvia
Key people
Raimondas Baranauskas (Chairman)[2]
Ivars Priedītis (CEO)[2]
RevenueLVL 34.6 million (2009)[3]
Decrease LVL 1.9 million (2009)[3]
OwnerBank Snoras (53.2%)[2]
Vladimir Antonov (31.96%)[2]
Number of employees
941 (2009)[4]
Websitelkb.lv

Latvijas Krājbanka (Nasdaq BalticLKB1R,Nasdaq BalticLKB2R) is a Latvian bank listed on the Riga OMX exchange. The bank dates back to 1924 when it was founded as the Latvian Postal Savings Bank. Operations of the savings bank continued in various forms during the Soviet period, and following the regained Latvian independence the privatisation process of the bank was initiated 1997 and concluded 2003.[5]

The main shareholders are Lithuanian based Snoras banking group and the Russian businessman Vladimir Antonov.[2] In 2009, Latvijas Krājbanka had a turnover revenue of 34.6 million Latvian lats with a loss of 1.9 million lats.[3] The bank had 941 employees[4] and 155 customer service centres in Latvia.[1]

In November 2011, the bank was taken over by the Latvian government and will be liquidated due to bankruptcy of Snoras. Antonov was accused of fraud and misappropriation of US$290 million.[6]

References[edit]

  1. ^ a b "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 13. Retrieved 2010-11-01.
  2. ^ a b c d e "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 6. Retrieved 2010-11-01.
  3. ^ a b c "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 9. Retrieved 2010-11-01.
  4. ^ a b "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 25. Retrieved 2010-11-01.
  5. ^ "About the Bank; 1994-2005". Latvijas Krājbanka. Retrieved 2010-11-01.
  6. ^ Latvia Says Antonov Owes $290 Million in Krajbanka Funds