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Meeting of the Baltic International Bank SE management and representatives of the UAE Embassy and LIDA

In order to promote cooperation between Latvia and the United Arab Emirates (UAE), as well as to discuss business activities, Valērijs Belokoņs, the Chairman of the Supervisory Board of Baltic International Bank SE, and Viktors Bolbats, the Chairman of the Management Board, had a meeting with Salem Al Shamsi, the deputy Mission Head of the UAE Embassy in Riga, as well as the representatives of the Latvian Investment and Development Agency (LIDA). The interest of UAE entrepreneurs to cooperate with Latvia and its entrepreneurs by providing all the necessary bank services, as well as the effect of “Expo 2020” event on the Latvian economics was discussed during the meeting. The information collected by the LIDA confirms that during recent years there have been positive trends in export to UAE, and “Expo 2020” in Dubai provided opportunities to enter into agreements with countries, like Sauda Arabia, India, Pakistan, the Maldives and others to many companies. On the Latvian National Day organised at “Expo 2020” the cooperation memorandum was signed between the LIDA and the UAE International Investors Council providing for promotion of mutual investment attraction and raising awareness of the investment environment in UAE and Latvia. “There have been important steps on the national levels to promote cooperation of Latvia and UAE, therefore it is important to continue the started initiatives, to provide successful cooperation in various business fields, including in the banking and finance sector,” said Viktors Bolbats, the Chairman of the Board of Baltic International Bank SE, “we have agreed on the next meeting and the topics for discussion to contribute all the effort for ensuring successful dialogue resulting in growth of economic activity.”    

Changes in Baltic International Bank SE shareholding

Founders and long-time majority owners of Baltic International Bank SE, Valeri Belokon and Vilori Belokon have agreed a share sale transaction with Sheikh Hamad Bin Khalifa Bin Mohammed al Nahyan, as a result of which he will become the bank's largest shareholder. The transaction will be completed after approval by the European Central Bank and the Financial and Capital Market Commission. As was previously reported, in November 2021 Baltic International Bank SE has successfully emitted new shares to attract EUR 12 million in equity capital. Three new investors have joined shareholder list, with the aim to develop and grow the Bank in its domestic market, but also in the European Union and global marketplace. Sheikh Hamad Bin Khalifa Bin Mohammed al Nahyan from the United Arab Emirates was one of three investors who invested in Bank’s capital in November 2021 and since then actively studied the Bank as well as banking role and opportunities in the changing world. “Latvia, as EU and NATO member state, is right place from which to develop a strong, independent banking market player further into Europe and the world. My experience as shareholder since November 2021, together with experience in global business and finance show that with right amount of capital and strong leadership on all necessary levels, Baltic International Bank SE can become a stronger, larger and successful player in European banking space”, says Sheikh Hamad Bin Khalifa Bin Mohammed al Nahyan. About Sheikh Hamad Bin Khalifa Bin Mohammed al Nahyan Sheikh Hamad bin Khalifa has been active in international business and investment for the past thirty years, having concluded much significant collaboration and contributed to transactions both in the UAE and globally in many fields of enterprise including but not limited to the financial industry, technology and innovations, telecommunications, renewable energy and waste management, agriculture /agritec, healthtec, mining and infrastructure.  Within the U.A.E., Sheikh Hamad bin Khalifa has been active mainly through the holding group entity HBK Department of Projects an entity duly registered in Abu Dhabi and the Arab Investment and Development Authority, an organization under the auspices of the International Parliament of Scientists for Human Development and the United Nations. Internationally, Sheikh Hamad bin Khalifa has always strived to identify the most innovative, reputable and potentially profitable enterprises and solutions in many, key sectors of financial activity, whilst trying to promote U.A.E. And Abu Dhabi as the hub for Technology and Innovations as well as commercial interests internationally to heads of states in Africa and other leading personalities in the region and other parts of the world.   

Baltic International Bank SE appoints Māris Liguts as a new member of the Management Board

Māris Liguts has been appointed as a new member of the Management Board of Baltic International Bank SE. He will be in charge of managing the AML or money laundering and terrorism and proliferation financing risk at the Bank. Previously, Māris Liguts worked for the law firm Deloitte Legal where he was a member of the board and a sworn advocate. Māris Liguts specialises in legal advice related to banking and financial law, commercial law, property law, etc. Māris Liguts is ranked as one of Latvia’s leading banking lawyers by international legal rating agencies (Legal 500, Chambers & Partners). He is also Member of the Board at the Latvian Athletics Association. Viktors Bolbats, Chairman of the Management Board of Baltic International Bank SE: “I am pleased that Māris Liguts has joined the Management Board of Baltic International Bank. Mr Liguts’ previous professional experience will be a significant contribution to the Bank’s oversight of AML, which is one of the priorities of Baltic International Bank SE. Strengthening the management team is yet another step towards the Bank’s business goals, both locally and internationally.” Māris Liguts, Member of the Management Board of Baltic International Bank SE: “Having regard to the role of Baltic International Bank in the Latvian financial sector so far, as well as the Bank’s strategic goals in the development of its operations both at local and international level, I am pleased to join the Management Board of the Bank. The strengthening of the internal control is one of the most essential areas for each bank and it plays a key role in the Bank’s overall development as the Bank focuses on new target markets.”

Baltic International Bank SE attracts investments to develop in local and Global Markets

Baltic International Bank SE has emitted shares to attract EUR 12 million in equity capital.  The bank has partnered with three new shareholders, and the aim is to develop not just in its domestic market, but also in the European Union and global marketplace. The bank found the new shareholders by emitting shares that led to an increase in the bank’s capital by EUR 12 million.  All of the emitted shares have been paid for.  After the registration of the emission at the Latvian Company Register, the bank’s paid share capital will amount to more than EUR 48 million.  The bank is currently including the increased capital into its normative acts. This moment is important not just because the bank has strengthened its capital, but also because it has attracted foreign capital.  The plan now is to develop services in Latvia and for clients in the EU.  The increased capital is a tool for expansion into new markets.  If necessary, additional capital will be sought so that the bank can become an important player on international markets.  Of importance for long-term development is the ability of the bank to obtain not just capital, but also the experience, competition and knowledge of new investors. The strategy of Baltic International Bank SE offers a range of benefits for companies in Latvia, including everyday banking, transaction and lending services that are available to large companies, as well as small and medium enterprises.  Research shows that right now, the segment of SMEs is not developing rapidly enough because of slow approaches toward lending.  All of this has been influenced by the Covid-19 pandemic and other challenges.  The strengthening of Baltic International Bank SE equity capital will allow the bank to expand its lending operations and to increase demand for other services by partnering with the local market and being able to react to demand. The goal of Baltic International Bank SE is to expand its offers on the basis of client needs so as to ensure success throughout the European Union.  Latvia’s economy is comparatively small, and so most private companies access European and global markets to export their products and services.  Such clients need a partner that can help in entrepreneurship, and this is the central focus of the bank.  Its international shareholder team and its experience in various markets mean that there should be an assurance of ongoing growth. As has been reported in the past, the new emission of shares was announced on October 8, 2021.  Baltic International Bank SE found three new shareholders from Switzerland and the UAE, thus attracting an additional EUR 12 million to its equity capital.  The bank’s majority shareholders, Valerijs and Vilorijs Belokoņs, have retained their status since the transaction.  


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