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Extension of the validity of the Moscow representative office licence

News - May 15, 2007

On 4 May 2007, Baltic International Bank’s representative office in Moscow obtained permission from the Central Bank of the Russian Federation to extend the validity of the representative office license to continue operating in Russia.

Development of the bank’s business, an increase in the number of clients and the resulting need for information about the existing legislative framework and analysis of the financial services sector in those countries where Baltic International Bank’s customers have a presence necessitated establishing representative offices overseas.

The Moscow-based representative office was the first office to be established by Baltic International Bank outside Latvia, followed by the opening of a representative office in London. The bank’s plans for the immediate future include establishing a representative office in Ukraine’s capital Kyiv. Baltic International Bank only specializes in high-net-worth individuals and large corporate customers by offering state-of-the-art banking services through private banking operations. A private banker, also referred to as a relationship manager, is assigned to work individually with each customer. Private bankers know the individual needs, wishes and interests of their customers and possess a complete understanding of all facets of each customer’s business.

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