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.