Banka Baltija

Banka Baltija
Industry Banking, Financial services
Fate Bankrupt
Founded 1993
Defunct June 12, 1995 (1995-06-12)
Headquarters Riga, Latvia
Area served
Latvia
Key people
Aleksandrs Lavents (Chairman); Tālis Freimanis (President)
Number of employees
1300

Banka Baltija was a bank in Latvia. In the early 1990s, Banka Baltija was a leader in Latvian banking system. Banka Baltija was founded in 1993, and had a very fast development. Its assets rose from 25 million USD from 1993, to 242 million dollars in 1994, reaching 500 million in 1995. The bank's capital rose from 1 million in 1993, 20 million in 1994 to 44 million in 1995. Banka Baltija had 37 branches and 49 settlement groups all over Latvia employing 1300 people. In April 1995, when a financial crisis started, Banka Baltija had 283 million dollars in deposits and had given credits of 283 dollars.

Fate

In June 27, 1995, following the bank crisis, The Supreme Court of Latvia (lv) found Banka Baltija insolvent. In 2007 bank's chairman Aleksandrs Lavents and president Tālis Freimanis were sentenced to imprisonment.

This article is issued from Wikipedia - version of the 10/20/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.