Bank In  Latvia - Latvijas +371

 Banks in the World Latvia Banking Directory


Balasta dambis street 1a, Riga, LV-1048, 
tel. 7444444, fax 7444501, 

AS Hansabanka, one of the leading commercial banks in Latvia, was established on 8 May 1992 under the name of German-Latvian Bank (Deutsche - Lettische Bank). In June 1996, the German -Latvian Bank became a part of the Hansabank Group and its name was changed to Hansabank-Latvia. The change of shareholders of the bank was the first step towards international banking. 

One of the milestones in the development of the bank was attracting a Swedish investor - Swedbank, a Swedish bank. In 1998, Swedbank acquired 48.98% of Hansabank-Latvia’s share capital and became a strategic investor of Hansabank Group, thus opening better development prospects to the bank. Currently Swedbank holds 99.16% of the Hansabank Group's shares. Another key event in 1998 was the successful merger of Hansabank- Latvia and Latvijas Zemes banka, which enabled the bank to become a universal bank with a vast range of services and wide branch network all over Latvia. 

In June 1999, the bank changed its name from Hansabank-Latvia to Hansabanka. By means of its new identity and image the bank clearly showed its desire and dedication to be open to all residents of Latvia. In 1999, Hansabanka was one of the most dynamically growing banks in Latvia, and the key achievement of the bank was the increase in the number of private customers and the rapid increase in volume of customer deposits, which testified on behalf of the customer loyalty to the bank. 

One of the most significant events of 2000 was the successfully completed merger with Ventspils United Baltic Bank (VUBB). This sizeable business transaction was also one of the most notable events in the banking sector in Latvia in 2000 undeniably strengthening the positions of Hansabanka in one of the most developed regions of Latvia, namely, in Ventspils. 

The next most important event of 2000 was the complete replacement of the previous core banking IT system for a new. This was required due to the rapidly growing business volumes and the ever-growing expectations of the customers in relation to banking services. 

Meanwhile, the year 2001 brought about excellent performance indicators showing that the bank was one of the most rapidly growing banks in the whole commercial banking sector in Latvia. The excellent performance indicators were accompanied by success in improvement of business technology and e-commerce area. There was a drastic increase in the number of payment cards issued by Hansabanka, number of users of Internet bank, Mobile Bank and Telehansa (electronic payment system for companies). This year was also remarkable for the fact that Hansabanka was the first in the Baltic States to perform the first international transaction (payment) by a smart card or chip card. The smart card transaction was performed following Visa International having positively completed the smart card certification at Hansabanka. 

On the eve of 2001, the bank signed an agreement on purchasing shares in SIA Hansa Lizings, which fostered the integration of operations of Hanza Lizings and Hansabanka and enabled to further improve the services provided by both companies, as well as opened new opportunities for financing private individuals and businesses. 

In 2002, Hansabanka consolidated its market leadership in Latvia and enjoyed a rapid increase in the business volumes, as well as ensured a top-notch customer service. This year was marked by several significant events: first of all, Hansabanka took up the management of the 2nd pillar pensions by launching a new service - Hansa Pensions; secondly, Hansabanka introduced a new corporate Internet bank; and thirdly, in December 2002 Hansabanka issued the first international smart card in the Baltic States and Scandinavia. Successful operations of Hansabanka were awarded with numerous awards, of which the key significance could be assigned to the prize awarded by the Latvian business newspaper Dienas Bizness, the readers-entrepreneurs of which recognized Hansabanka to be the best bank in Latvia. 

Growth of business volumes, attraction of new customers, banking services sales promotion and consolidation of leadership in all the most important areas of retail banking were the most important objectives set for and achieved in 2003 by Hansabanka. The bank held on to its priority of ensuring top quality customer service, which underlies the competitive strength of the bank. The bank further strengthened its leading role in retail lending and in 2003 further focused on corporate banking, prioritizing the banking services to small and medium-sized enterprises. 

In 2004, Hansabanka increasingly focused on SME segment, which was given a priority in the operations of the Corporate Banking Division of Hansabanka. Nevertheless, the major corporate customers were still treated with the same attention, same pertaining to the customers involved in trade financing business. Hansabanka proceeded with consolidating its leadership in retail banking and achieved the status of being the bank that ensures the best customer service in the Latvian commercial banking sector. 

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