Baltic International Bank continues its purposeful development and increases the share capital

News - August 17, 2009

To continue the bank’s purposeful development and to stand in line with its strategic goals and objectives, our shareholders have approved the resolution to increase the share capital to 15.5 million lats through a new-share issue.  

„While the external environment continues to be affected by the aftermath of the global financial crisis, the paramount objective of our strategy and tactics is to reinforce the bank’s positions and to reduce its exposure to certain types of risks encountered by most market participants. To pursue the strategy, we need to focus on a purposeful development by continuing to grow customer deposit base and by fostering asset growth. At the same time, we need to exercise vigilance when managing customer funds held by the bank in a fiduciary capacity. While planning its activities, the bank must comply with ever-increasing regulatory requirements imposed to the financial services sector both at the national and international levels”. These are the major reasons behind the decision to raise the share capital cited by the Chairperson of the Board Ilona Gulchak.  

 „The share capital increase will undoubtedly give a boost to our further development. We have already made significant investments to modernise the IT structure. To enhance the functionality of the IT system and the quality of operational infrastructure, the bank has fully completed the implementation of banking software Temenos Т24 in May 2009. Due to our commitment to broaden the spectrum of banking products and services and our adherence to the private banking-specific principles, this year we have become the first bank in Latvia and the Baltic States to issue World Signia - one of the most exclusive credit cards of  MasterCard Worldwide, a leading global payment solutions company. We continue offering our customers new types of deposits. Also, we have implemented and still continue to improve our Gold Investment Program,” the Chairperson added.  

Currently, the bank continues developing its business strategy for the next five-year period, based upon our recent achievements in a certain market segment and taking into consideration the global financial processes in the area of finance.

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