Latvijas Krājbanka

Latvijas Krājbanka
Joint stock company
Traded as Nasdaq Baltic: LKB1R Nasdaq Baltic: LKB2R
Industry Banking
Fate In liquidation
Predecessor Latvian Postal Savings Bank
Founded 1924
Headquarters Riga, Latvia
Number of locations
 155 service centres[1]
Area served
 Latvia
Key people
 Raimondas Baranauskas (Chairman)[2]
Ivars Priedītis (CEO)[2]
Revenue LVL 34.6 million (2009)[3]
Decrease LVL 1.9 million (2009)[3]
Owner Bank Snoras (53.2%)[2]
Vladimir Antonov (31.96%)[2]
Number of employees
 941 (2009)[4]
Website lkb.lv

Latvijas Krājbanka (Nasdaq Baltic: LKB1R,Nasdaq Baltic: LKB2R) 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

  1. 1 2 "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 13. Retrieved 2010-11-01.
  2. 1 2 3 4 5 "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 6. Retrieved 2010-11-01.
  3. 1 2 3 "AS Latvijas Krajbanka Consolidated Annual Report for 2009" (PDF). nasdacomxbaltic.com. 2010-03-12. p. 9. Retrieved 2010-11-01.
  4. 1 2 "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


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