Baltic International Bank Celebrates Its 20th Anniversary
On 3 May 1993 Baltic International Bank was registered in the Register of Enterprises of the Republic of Latvia, and today it celebrates its 20th anniversary.
“For Latvia 1993 was a period of rapid growth of the banking sector and fierce competition. When Baltic International Bank opened, there were 53 banks in the country and by the end of the year almost 70. The bank started with equity capital of twenty-five thousand lats and five employees. Our assets are currently two hundred and thirty million lats with 230 employees,” stated Chairperson of the Board of Baltic International Bank, Ilona Gulchak. “From the very first day of our activity, we had a clearly defined direction of our development – the tailor-made servicing of high net worth individuals – and this has remained our priority for the last two decades.“
In 1994 Baltic International Bank was the first in Latvia to offer private banking services – a special form of individual services. In 1997 the bank was one of the first in the country to offer its clients the option to buy gold bullion of the highest quality.
In its international activity, the bank considers it important to have a presence in regions where our clients live and work: in 2004 the doors opened at the representative office of the bank in Moscow, in 2006 London, and from 2007 a representative office has been open in Kiev.
In 2008 the extensive reconstruction of the Head Office building in Old Riga was completed; subsequently being awarded at the best construction objects contest in 2008.
Starting from 2009, the bank initiated the development of a new business – family wealth management. In 2011 the subsidiary BIB Consulting was established for the development of services for the protection and structuring of clients’ assets.
The successful operations of the bank have received prestigious international awards: in 2010 and 2011 the bank won SPEAR’S Russia Wealth Management Awards as “The Best Bank in CIA and the Baltic States Providing Private Banking and High Net Worth Asset Management for Russian Clients”.
Today Baltic International Bank is one of the most experienced Latvian banks in the personal servicing of private and business interests of high net worth families. It offers tailor-made financial solutions and the elaboration of promising strategies for the retention of assets for future generations.