Online terminal of banks in Latvia

Online terminal of banks

Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society. Online banking is also referred as Internet banking, e-banking, virtual banking and by other terms.

Online banking in Latvia

In Latvia banking sphere is well developed and any individual will enjoy high quality service. Read more to see what options online Latvian banks provide with it's users.

Structure of bank assets in Latvia

Structure of bank assets as of Q1 2014 in Latvia (source)
Loans - 53.4%
Due from credit institutions - 21.4%
Securities - 13.8%
Cash and deposits with the Bank of Latvia - 8.7%
Fixed assets and intangible assets - 0.6%
Other assets - 2.1%

Loans
In finance, a loan is a debt provided by one entity (organization or individual) to another entity at an interest rate, and evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment.

Securities
A security is a tradable financial asset of any kind.
Securities categorization:

• debt securities, (e.g., banknotes, bonds and debentures)
• equity securities, (e.g., common stocks)
• derivative securities, (e.g., forwards, futures, options and swaps).

Fixed assets

Fixed assets, also known as "tangible assets" or property, plant, and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.

Automated Teller Machine (ATM) in Latvia

ATM

A machine, activated by a magnetically encoded card or other medium, that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals, and transferring funds between accounts.

ATM's in Latvia

As of 2014 there are 1154 active ATM's in Latvia.^[1] Latvia's 1,99^[2] million inhabitants hold 2385 bank payment cards.

Biggest bank ATM's locations

Swedbank: link
SEB: link
Citadele: link
DNB Nord: link

Nordea: link (Latvian)

SEB works to rebuild profits

RIGA - Although Swedish bank SEB has not yet recovered all that was lost during the financial crisis, overall, the bank’s operations have recently been profitable in Latvia, SEB bank President Ainars Ozols said in an interview with Rietumu Radio on Feb. 26, reports LETA.

“Overall, we have been operating with a small profit, but profit nonetheless, since SEB entered Latvia in 1993; however, following the crisis, we have not yet recovered what we lost,” confirmed Ozols. It is not a goal of the bank though to recover the lost money as soon as possible, but to organize operations so it would function without losses in the future.

2013 was a successful year for SEB bank - there were positive trends, new clients joined the bank and it began implementation of new projects, said Ozols. In terms of profits, 2013 was a “mediocre” year, however.

Source: http://baltictimes.delfi.lv/news/articles/34508/#.U1-SbFWSymE

Real Estate in Latvia

Be sure to open escrow account in Latvia when you do purchase a real estate. It will give you a guarantee you don't lose your money and that you actually obtain your purchased item, in this case, house, apartment, land, factory or storehouse.

Business in Latvia: Bitcoin - Fraud? Ponzi scheme?

Business in Latvia blog felt the need to write about this digital currency as more and more information kicks in.

In this Article we will answer on questions such as:

• What is Bitcoin?
• Where can you acquire one?
• What is the posibilities?
• What official institutions says about it? (probably scandalous)

 Read further to get answers.

ABLV Bank says LVL 10.9 millions in 9-month profit

Latvia business: ABLV Bank says LVL 10.9 millions in 9-month profit

ABLV bank

The bank's operating income before allowances for credit losses totaled LVL 48.7 million at the end of September, writes LETA/Nozare.lv.

The total amount of investments at ABLV Bank reached LVL 1.87 billion. Since the beginning of the year, the amount of deposits has grown 16.4%.

As of September 30, the bank’s assets amounted to LVL 2.09 billion.

During the first nine months of the year, the bank’s loan portfolio increased to LVL 476.2 million. ABLV Bank notes that the bank's approach to crediting remains highly conservative – its loan portfolio constitutes 22.8% of the bank’s total assets.

Necessary allowances made under the loan portfolio and other assets amounted to LVL 56.4 million.

The bank’s capital and reserves amounted to LVL 100.9 million. As of December 31, 2011, the bank’s capital and reserves stood at LVL 90.1 million.

As of September 30, 2012, the bank’s capital adequacy ratio was 15.08%, whereas liquidity equaled 66.22%. ROE reached 15.01%, ROA – 0.73%.

ABLV Bank group also includes ABLV Capital Markets, ABLV Asset Management, ABLV Transform Partnership, ABLV Consulting Services, ABLV Corporate Services, New Hanza City and others.

ABLV group has offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku and Tashkent.

Needles to say banking is one of best investment in economics. If you're thinking of investing in Latvia then this is a green light to do it!

Author: Artis Zelmenis

World currency - the gold price and devaluation

Sponsored article: Baltic Legal sponsorship

World currency - the gold price and devaluation

World currency long time has not been covered by gold, a so called gold standard. Thus increasing overall inflation rates by multiplied times, because money can be printed out of nowhere.

Today (November 20th, 2012) gold price

Today one ounce of gold price is exactly 1732.9 United States Dollars. I will cover different nations with different economical situations throughout world and their currencies related to gold and USD.

Whats wrong with dollar?

Is American dollar failing?

Federal Reserve is American privately owned banking system. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.

What happened in panic of 1907 year?
Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The Panic of 1907 was a financial crisis that occurred in the United States when the New York Stock Exchange fell almost 50% from its peak the previous year.

Federal Reserve is the one controlling USA dollar thus meaning almost entire worlds currencies.

Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system.

So it is a crisis, we put in force a private bank, then there is another crisis, yet greater then before, then we make some changes. And after all, comes this:

Banking and bookkeeping in Latvia: Stabilization of bank sector in Latvia results with success

Stabilization of bank sector in Latvia results with success

The asset management company Reverta is the former Parex Bank after reorganization.  „Professional work,  economic processes in Latvia and in the world, crisis in the eurozone, the unstable political and economic situation in the world, and the slow recovery of Latvia’s economy – these factors are all quite logically reflected in the development of the business projects of our clients, as well as in the real estate market. For that reason, we predict that the company will continue to generate losses as planned for the next few years,” the company’s board chairman Christopher Gwilliam said.