Parex Group is one of the largest, oldest and most experienced private financial groups in the Baltic States. With its flagship Parex banka, the largest commercial bank in Latvia, and other companies such as Parex Asset Management , Parex Insurance Company, Parex Leasing Company, Parex bankas in Lithuania and the Parex banka branch in Estonia, Parex Group offers solutions for all of your financial needs in the Baltics. Our experience has been generated in the local market over 15 years of transition to a market economy, and with the accession of the Baltic States into the European Union, Parex Group is on its way to expand its territory and explore new markets.
Financials
Parex banka enjoyed a year of success in 2003 as its assets crossed the one billion Latvian lats threshold and the net profit was at a record high. Parex banka is the first bank in Latvia with over one billion lats in assets and the first with over 100 million lats in shareholder’s equity, thus retaining its position as the largest bank in Latvia for the seventh straight year. Other exciting events included a share capital increase of 27%, a 33% increase in loans, a 32% increase in net operating income, and impressive growth in all areas, including services to large corporations, SMEs and private persons. We were able to celebrate the 15th anniversary of the Parex brand as business in commercial lending, home mortgages, Bank cards, pension ser vices, capital markets activities, and asset management all increased.
Parex banka enjoyed a year of success in 2003 as its assets crossed the one billion Latvian lats threshold and the net profit was at a record high. Parex banka is the first bank in Latvia with over one billion lats in assets and the first with over 100 million lats in shareholder’s equity, thus retaining its position as the largest bank in Latvia for the seventh straight year. Other exciting events included a share capital increase of 27%, a 33% increase in loans, a 32% increase in net operating income, and impressive growth in all areas, including services to large corporations, SMEs and private persons. We were able to celebrate the 15th anniversary of the Parex brand as business in commercial lending, home mortgages, Bank cards, pension ser vices, capital markets activities, and asset management all increased. …
