2019
Bank
In 2019 Rietumu has been especially focused on crediting as it becomes one of the bank’s strategic priorities. The bank finances ambitious projects in both commercial and residential real estate developments, manufacturing, transport, pays special attention to fintech start-ups and other promising areas.
Rietumu concluded an agreement with Latvian development finance institution ALTUM. The institution provides support to small and medium-size enterprises, start-ups, agricultural businesses and other target groups via state financial instruments.
An updated line of credit cards, with new opportunities and bonuses for customers, has been launched. All Rietumu cards are contactless and befit the newest technologies. A special advantage for entrepreneurs and keen travelers is a quality worldwide insurance which comes with the card.
Rietumu launched a new website, with new design, structure and updated content. The contemporary website corresponds to the latest trends and complies with the interests and requirements of the bank’s customers.
2018
Bank
In 2018, Rietumu Bank transformed its business strategy in accordance with the latest requirements of the regulators. This work was highly assessed by both Latvian supervisory bodies and foreign partners.
The main regions for the bank’s activities are now becoming the Baltics and other EU countries. Rietumu Bank continues focusing on the servicing of corporate clients and affluent individuals. One of the focuses of the new strategy is business lending, which already brings positive results within a short period.
Rietumu Bank sponsored the Latvian national team at the Ice Hockey World Championship, where our team reached quarter-finals.
Rietumu Bank was included into the TOP 101 of the most highly assessed Latvian companies – the annual research of the market value of undertakings conducted by the financial company Prudentia in cooperation with Nasdaq Riga stock exchange.
With the support of the bank and its Charity Fund, several big cultural events were held in Latvia, including the Golden Mask theatrical festival and World Jazz Festival. With the support of the bank, designer Arthur Analts presented Latvia for the first time at the prestigious London Design Biennale, having received the main award for the best design.
Rietumu Charity Fund allocated funds for the acquisition of the latest equipment for the Children’s Clinical University Hospital in Riga and implemented a number of other significant projects.
2017
Bank
Rietumu marks the 25th anniversary. Over the past years bank became one of the leaders of Latvia’s financial sphere. Rietumu ranks third in volume of assets, and second in amount of earned profit.
Rietumu started cooperation with Germany’s leading platform for placement of deposits – ZINSPILOT. Therefore the bank got access to this country’s savings deposits market – the largest in Europe. Rietumu is the first bank in Latvia to launch such FinTech project.
The Bank has financed the transaction with mega yacht manufactured by Italian company Benetti – world leader in design and construction of elite yachts.
Rietumu joined the top of Banks, recommended for financing private aviation and super yachts in prestigious The Spear’s 500 Travel Guide 2017.
Rietumu has started cooperation with StartinLV association, uniting a few tens of perspective Latvian start-ups. In cooperation with association the Bank has held the third international start-up contest Rietumu FinTech Challennge in Riga.
Renewed mobile internet-bank application for devices on Android platform, as well as its new version for iPhone and iPad has been released.
Rietumu Charity Fund has turned 10 years. The Fund annually supports about 100 projects for a total amount of 1 million euro.
Rietumu supported new European project in the field of culture named “Baltic musical seasons”. World-famous artists, conductors, musicians and masters of opera stage are taking a part in the concert cycle.
2016
Bank
Private aircraft crediting is developing. Bank financed the purchase of Business Jet Gulfstream, which meets the latest international standards.
Rietumu Bank continues cooperation with perspective start-ups in the sphere of financial technologies. With the support of Rietumu Bank there was an international contest of Rietumu FinTech Challenge held in Riga already for the second time. Besides there were held two meetings of Rietumu FinTech Club where the topical issues of industry are discussed in a club format.
Rietumu Bank paid dividends on preferred shares. Profitability of first emission preferred shares in a year constituted 17.4%, from which a dividend income – 8.7%.
5th International conference on the topics of electronic commerce “eCom21” has been held under the patronage of Rietumu Bank. About 600 participants from more than 40 countries have attended this forum.
Currency spectrum has been extended for direct money transfers to VISA and MasterCard cards, issued by any bank all over the world. Today it is possible to make such money transfers without conversion also in Russian rubles.
Rietumu once again received prestigious SPEAR’S Russia Wealth Management Award as “The best Bank in CIS and Baltic countries”.
The improvement of technologies has been continuing. Rietumu Bank has renewed mobile applications for iOS and Android, which contain a range of functional novelties and are even more reliable.
2015
Bank
The bank became the "SPEAR'S Russia Wealth Management Awards" award winner for the fifth time.
Rietumu Bank, uniquely among banks in the Baltics, has received PCI-DSS certification.
The company «ВестЛизинг», one of the biggest players on Belarus market, started working under the brand name «RietumuЛизинг».
A support programme for startups has been developed. We've started cooperation with the largest community in Latvia in the sphere of IT and startups – TechHub Riga. The bank has also become a partner of the "Silicon Valley Comes to the Baltics" forum and competition for the best startup.
Rietumu Asset Management offered clients the individual investment portfolios Commodity Basket and Brands&Luxury with participation interest in the funds.
An impressive increase in card service development was accomplished in cooperation with the new processing centre DECTA, offering brand new possibilities for Visa and MasterCard cards.
The bank has released significant and up-to-date hi-tech products: an internet bank app for Apple Watch was introduced, the first time it has been made available in the region, apps for Android and Windows Phone were launched. Apps for iPhone and iPad were renewed and improved.
The issuing of Rietumu bonds went successfuly, and demand significantly exceeded supply.
The bank has become a general partner of Moscow International Biennale – one of the most influential contemporary art events.
The bank supported the major cultural events of the 2015 season in Latvia: the festivals "Rendez-vous with Laima Vaikule" and the World Jazz Festival, as well as the exhibition "Rerikh in Latvia".
2014
Bank
Rietumu Bank launched the advanced system of virtual identification. The system provides convenient and reliable identification for clients working with the bank via mobile devices, using the inbuilt virtual digipass – Digipass for Mobile©.
The eCom21 international e-commerce conference, the biggest in the region, was held under the patronage of the bank for the third time. The key subject of this year was e-money; over 500 experts of the field from all over the world visited Riga within the framework of the business forum.
Rietumu Bank completed a limited issue of its preference shares intended for local and foreign clients, as well as partners of the bank. In the course of the issue, 13.3 million preference stocks were signed and paid up. For holders who acquired the preference stocks during the first issue, the yield in 2014 was 18% p.a.
For the fourth time, the bank received the prestigious SPEAR’S Russia Wealth Management Award in the category for “Best Private Bank in the CIS and Baltic States Providing Banking Services and Wealth Management for Russian Clients”.
2013
Bank
For the convenience of its clients in the Asia Pacific Region, Rietumu Bank launched a website in Chinese. Thus, Chinese becomes the sixth language in which the bank’s clients can obtain information on products and services, as well as find out about new offers and opportunities of the bank.
Rietumu Bank issued a new Platinum class credit card – Jurmala. This exclusive card is intended primarily for foreign guests who arrive on vacation at this popular European resort or for those who live here permanently.
President of Rietumu Bank Alexander Pankov took part in the Frankfurt Euro Finance Week, where he shared the experience of Latvia in overcoming the crisis and the subsequent introduction of the euro in the country.
For the second year in succession, the international conference on e-commerce eCom21 was held in Riga under the patronage of Rietumu Bank. The conference became the central event of the year in e-commerce in the Baltic Region, having gathered together over 500 professional participants in the market from 25 countries.
At the end of the year, for the third time, the bank received the prestigious Russia Wealth Management Award of SPEAR’S magazine in the nomination “Best Private Bank in the CIS and Baltic States Providing Private Banking Services and Wealth Management for Russian Clients”.
2012
Bank
20th anniversary of Rietumu Bank.
Following the development of the businesses of its clients, Rietumu Bank increased its presence in the Asian region; a representative office of the bank’s partner was opened in the business capital of China – Shanghai.
Under the bank’s patronage, the first international conference on e-commerce eCom21 was held in Riga. The event caused huge interest and attracted over 250 leading professionals in the market from Russia and other countries of the CIS, as well as Europe and the USA.
Rietumu Bank Starts the First Public Offering of Its Bonds.
Rietumu Bank has started financing of shipping companies.
2011
Bank
The bank started to actively credit the acquisition of real estate for obtaining a residence permit in Latvia. With the support of Rietumu Bank, in 2011 such status was acquired by several hundreds of investors and their family members.
Rietumu Bank started offering internet acquisition services to its corporate clients that allow goods and services to be sold online easily and conveniently. eRietumu provides a possibility to perform e-trade structuring and complex management based on a merchant account in a European bank.
Rietumu Bank expanded the geography of lending in Russia and other CIS countries. Funds are now provided for developing businesses in Latvia, different regions of Russia, the CIS and Europe. The bank also assists its clients in attracting funds from European foundations.
In 2011 special attention was devoted to developing opportunities for the remote servicing of clients. It became possible to communicate with the bank via Skype, conduct video conferences with bank experts, supplement deposits by phone and do many other things.
Latvia
Ex-banker Andris Berzins was elected the President of Latvia.
The decision about resolution of the Saeima was taken at the referendum.
World
Riots in the Middle East. ‘Arab Spring’.
The disaster at the Fukushima nuclear power plant.
The last flight of the space shuttle ‘Discovery’.
The world's first marathon with participation of robots.
2010
Bank
Rietumu Bank offered its clients a program of support in obtaining the residence permit in Latvia.
Alexander Gafin, the leading Russian expert on PR, joined the Council of the Bank.
Balram Chainray, one of the wealthiest businessmen in Hong Kong, became the co-owner of Rietumu Bank.
Alexander Kalinovski joined the Council of the Bank. Alexander Pankov, the first Vice-President of the Bank, became President of Rietumu Bank.
Rietumu becomes the first bank in the Baltics that launches its own internet banking application for iPhone.
According to the Business New Europe magazine, Rietumu Bank was announced as the best bank in Latvia (according to the 2009-2010 study).
Latvia
The first official visit of the President of Latvia (Valdis Zatlers) to Russia.
New legislation allowed foreign investors to receive a residence permit in Latvia for up to five years.
World
Revolution in Kyrgyzstan.
The crew of the International Space Station got direct access to the Internet.
The eruption of the Eyjafjallajoekull volcano in Iceland.
The first tablet PC iPad came into market.
2009
Bank
Rietumu Bank became the most profitable bank in Latvia.
Rietumu Bank introduced a new system of customer identification – Rietumu ID, which is modern, comfortable and very reliable.
Representation office in Paris was opened.
A new logo and the corporate style of Rietumu Bank was developed.
Latvia
January. Protests and riots in Old Riga.
Latvia's GDP fell by 17.8% – the worst performance in the world's GDP growth for the year.
World
Sudden death and lavish funeral of singer Michael Jackson.
Issue of the unpublished Nabokov novel ‘Original of Laura’.
Alla Pugacheva announced her departure from the scene.
Monument ‘Worker and Collective Farm Girl’ is back in place after reconstruction.
2008
Bank
Rietumu Bank became a co-owner of the WestLeasing Group in Russia and Belarus and of the Ukrainian brokerage company ‘Savings Company’.
New head office of the Bank – Rietumu Capital Centre was opened.
Latvia
Start of construction of the National Library in Riga – ‘The Castle of Light’.
World
Start of a recession in the world economy.
Barack Obama’s victory in the US presidential elections.
Beijing Olympic Games.
‘Suprematist Composition’ of Malevich was sold at Sotheby's for USD 60 million.
2007
Bank
Representative office in Bucharest was opened.
The syndicated lending programme continued.
Founded Rietumu charitable foundation.
Latvia
Latvia joined the Schengen zone.
International photographers action ‘One Day in Latvia’ supported by Rietumu Bank.
World
The end of the division between the Russian Orthodox Church Outside of Russia and the Moscow Patriarchate.
The jubilee tour of Iosif Kobzon in the ex-USSR, concerts in Riga.
Theoretical physicist Garrett Lisi (USA) proposed an ‘exceptionally simple theory of everything’ based on the properties of Lee algebras.
Writer Kurt Vonnegut died.
Release of iPhone.
2006
Bank
Michael Bourke entered the Council of Rietumu Bank; Alexander Kalinovski, who served as the first vice-president, became President of the Bank.
Rietumu Bank received several large syndicated loans.
Latvia
NATO Summit in Riga.
The World Hockey Championship took place in Riga.
World
An abstract Internet user became Man of the Year according to Time magazine.
Transcript of the human chromosomes was published.
Return of Munch paintings ‘The Scream’ and ‘Madonna’ stolen from the museum in Oslo.
2005
Bank
The Bank began the construction of new headquarters Rietumu Capital Centre.
Dermot Desmond, well-known European investor, becomes a Rietumu Bank shareholder.
Latvia
President of Latvia (Vaira Vike-Freiberga) arrived to Moscow to participate in the celebrations of the 60th anniversary of the Victory.
World
Divorce of Alla Pugacheva and Philip Kirkorov.
Boom of Russian antiques in the world markets.
Hurricane ‘Katrina’ in the USA.
Benedict XVI became the Pope.
2004
Bank
Rietumu Bank issued VISA chip cards made in an original design.
Transition to a uniform numbering system of accounts for the EU countries – IBAN.
Global Finance magazine called Rietumu Bank the best bank in Latvia in the field of foreign exchange transactions.
Rietumu Bank was ranked the second among the fastest growing banks in the Central Europe according to the magazine The Banker.
Rietumu Bank acquired the Russian brokerage company Eco Save and established a new investment company RB Investment.
Latvia
Latvia joined NATO.
World
Ten countries, including Latvia, became members of the European Union.
‘Orange Revolution’ in Ukraine.
The earthquake and tsunami in the Indian Ocean.
Zaha Hadid became the first woman architect awarded the Pritzker Prize. The award ceremony took place in the Hermitage in St. Petersburg.
2003
Bank
Reorganisation of lending, new lending programmes.
Reforms of the card service: cards start to operate online.
Latvia
66.97% of the citizens voted in the referendum for joining the EU.
The Eurovision festival took place in Riga .
World
The anti-Iraq coalition forces took Baghdad.
Celebration of the 300th anniversary of St. Petersburg.
‘Boomer’ movie appeared in theatres.
Ballet-dancer Volochkova was dismissed from the Bolshoi Theatre in a scandal.
2002
Bank
Beginning of cooperation between Rietumu and EBRD and its first credit lines.
Modernisation of technologies continued; the Bank acquired the universal banking system Equation DBA.
Latvia
Latvian singer Marie-N won first place at Eurovision.
World
Introduction of euro cash.
The largest flood in Europe for 100 years.
The Nobel Committee recognized ‘Don Quixote’ by Cervantes as the best works of world literature ever written.
2001
Bank
Rietumu Bank acquired Saules Banka .
Online bank Rietumu BankWorld was created and launched.
Rietumu Bank was the first in the Baltic States to emit the EC/MC and VISA Platinum cards.
Representative office in Minsk was opened.
Latvia
800th anniversary of Riga.
Rietumu Bank – General Sponsor of the M. Rostropovich Festival in Latvia.
World
Flight of the first space tourist.
‘Group of Seven’ became the ‘Group of Eight’.
Terrorist attacks in the USA on September 11.
‘Wikipedia’ internet resource started operating.
2000
Bank
Issue of the Rietumu Cirrus payment card.
Active negotiations on attracting a strategic investor to the Bank.
Latvia
Restaurant ‘Lido’ was opened, the most expensive facility built in Riga in the 90s.
Grand festival ‘Riga is the city of inspiration!’
World
XXVII Olympic Games in Sydney.
Vladimir Putin became the President of the Russian Federation.
The fire in Ostankino TV tower.
The first visit of the Pope in Israel.
1999
Bank
Rietumu concluded several important agreements with major financial institutions of the West, which opened up new opportunities for finding and placement of investments.
The bulk of the Bank departments moved to a new office on Brivibas Street.
Latvia
The House of Blackheads was reconstructed in Riga.
Vaira Vike-Freiberga became the President of Latvia.
World
World population reached six billion people.
Hugo Chavez became the President of Venezuela.
Dow Jones index exceeded 10 000 points for the first time in the history.
‘Tatu’ pop music band was created.
1998
Bank
Rietumu Bank expanded its network of branches.
A new direction was developed – Corporate Banking.
Creation of a new strategy of the Bank development in the corporate sector.
Representative office in Kiev was opened.
Representative office in Almaty was opened.
Latvia
The historical centre of Riga was included in the list of sites protected by UNESCO.
Meeting of the Baltic Sea Council. The first visit of the Russian prime minister to Latvia.
World
Remains of the Russian tsar family were buried in the Peter and Paul Cathedral.
Financial crisis on emerging markets. Default in Russia.
Google was founded.
Beginning of the International Space Station construction.
1997
Bank
Michael Bourke took the office of the President of Rietumu Bank; previously, he had been working as an advisor to the President of the Bank of Latvia for five years.
Reconstruction of a new office of the Bank on Brivibas Street was started.
Representative office in Moscow was opened.
Latvia
Latvia opens its representative office in EU.
World
Hong Kong came under the jurisdiction of China.
The first book of Harry Potter was released.
The search system Yandex.ru was announced.
The death of Princess Diana in a car crash.
1996
Bank
Bank started offering trust programs.
Arkady Sukharenko became President of the Bank.
First website of Rietumu Bank was launched.
Opening of the modern Dealing Centre.
Start of securities operations.
Latvia
Sandis Ozolins the first Latvian citizen to win the Stanley Cup.
World
XXVI Olympic Games in Atlanta.
The Schengen Agreement entered into force.
Online auction Ebay was created.
The dollar design, which had been traditional since 1928, was changed.
1995
Bank
Rietumu Bank became the fifth largest bank in the country.
The first two branches were opened – in the Old Riga and in the port area.
Bank issue first payment card.
First information centres of the Bank abroad.
Latvia
Collapse of the Baltija Banka and the first banking crisis in the modern history of Latvia.
The government submitted a formal application for EU membership.
The National Opera of Latvia was opened after major reconstruction.
World
Austria, Finland and Sweden joined the European Union.
The British mathematician Andrew Wiles published proof of Fermat’s theorem.
Scorsese’s film ‘Casino’ appeared on the screen.
The novel ‘The Island of the Day Before’ was written by Umberto Eco.
1994
Bank
Reconstruction of the first office of Rietumu Bank on Vesetas Street.
The first audit of Rietumu bank (Arthur Andersen), the first bank audit in Latvia.
Latvia
The US President (Bill Clinton) visited Riga for the first time.
World
Russian troops left Estonia and Latvia.
The German rock band Rammstein was created.
1993
Bank
Start of the remote customer service.
Publication of the Rietumu Bank first advertisement in the press.
First remote banking system HomeBanking was introduced allowing our customers to manage accounts from office or home.
Issue of first letter of credit.
Latvia
Election of the first post-war president of Latvia.
The introduction of the lat as currency.
The national top level domain was registered – .lv.
World
Kusturica’s ‘Arizona Dream’ was filmed.
The political crisis in Russia. Assault of the White House.
Flash of SN 1993J supernova in M81 galaxy.
1992
Bank
Winter. Tony Levin, one of the managers of the US financial group Citibank, was invited to create the future bank.
Spring. The application for registration was prepared and filed.
On May 14 Rietumu Bank was registered in the Register of Enterprises of Latvia.
Summer. The first group of employees was hired by the bank – graduates of the Accounting and Credit College.
Customer service began on September 23, the first accounts were opened.
December. Rietumu employees celebrated the first New Year of the Bank.
Latvia
Introduction of the Latvian ruble.
Opening of the Goethe Institute in Riga.
World
Bill Clinton won the US elections.
The book by Francis Fukuyama ‘The End of History and the Last Man’ was published.
Signing of the Maastricht Treaty, creation of the European Union.
European Disneyland was opened near Paris.
1991
Bank
Leonid Esterkin originated and developed an idea about establishment of the bank, which will later be called Rietumu Bank.
Latvia
The Bank of Latvia becomes the central and issuing bank.
The People's Poll on state independence.
The Law of the Supreme Council on the reorganisation of banking institutions.
World
Collapse of the USSR.
Start of the ‘Desert Storm’ operation.
The Pavlov monetary reform.