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Bank’s Target Customers and Risk Appetite

Bank’s customers are companies of various sectors that use banking services for both the company’s daily needs and business development purposes. Bank’s customers and their operations must comply with the European Union banking sector standards with regard to anti-money laundering and observance of requirements set forth by sanctions regimes. The bank demonstrates zero tolerance towards violations of EU, OFAC, UN sanctions and of national sanctions of Latvia, as well as attempts to by-pass them.

The Bank’s target customer is:



  • a legal entity – borrower that carries out active business operations;
  • large and medium enterprises of Latvia with a good growth potential;
  • business partners of the said customers;
  • private individuals who are the owners, managers and employees of customers-legal entities.

 

In its operations, the bank focuses on the provision of the lending service to Latvian companies. Simultaneously, the bank sees the opportunities of cooperation with customers that do not require lending services, yet operate in prospective and growing sectors of the national economy of Latvia and the European Union.

The Bank has set the following priority sectors in the field of financing of Latvian companies:

  • Processing industry (food, metal processing);

  • Wood processing and logging;

  • Pharmacy;

  • Energy;

  • Real estate;

  • Agriculture.

    At the same time, the bank considers lending projects in other sectors and regions as well.

    Taking into account its long-term experience in the finance market, the bank services customers of various risk levels and their transactions. Simultaneously, the bank carries out especially cautious and enhanced due diligence of customers that correspond to the signs of a shell entity determined in the normative acts of the Republic of Latvia (https://likumi.lv/ta/id/178987-noziedzigi-iegutu-lidzeklu-legalizacijas-un-terorisma-finansesanas-noversanas-likums).

The Bank does not provide services to customers whose business activity is related to the following sectors:



  • multi-level marketing, pyramids, fast-earning programmes;
  • “file sharing” services; IT services in the area of traffic monetisation (selling “web traffic”, intermediary services in placing banner advertisements on the Internet, and “click” / “leads” generation), as well as other similar services;
  • trading and provision of services in virtual environment (no office premises, actual address, company’s employees, warehouses or other signs of actual operations);
  • services and/or mediation in the field of virtual assets, selling of virtual assets;
  • business wherein virtual assets are used as a payment mechanism (payment method);
  • anonymous payment services, using current accounts, payment cards or other similar possibilities of making payments;
  • charity organizations without appropriate licenses or which are regulated and licensed by countries other than EU Member States;
  • shell banks.

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