Headquarter

Baltikums
（ラトビア共和国領事館　準備室）
1-4-14 Tamatsukuri,
Chuo-ku,
Osaka-City,
540-0004
JAPAN
(Postal mail only.Registered & parcels are accepted.)



Copyright 2001-2006 Baltikums All rights reserved.

Banking legislation The legislative framework for banking in Latvia meets the EU requirements in full, and, in some areas, local legislative requirements are even more rigorous. The International Accounting Standards (IAS) have been fully introduced; banks' annual reports are prepared in accordance with IAS and audited by internationally recognised auditing firms. Practical supervision of the banking sector is very tight and bank inspections are conducted more frequently than in the EU member states. The principal relevant Law on Credit Institutions (in force since October 24, 1995) has been amended on several occasions. The regulations of the Financial and Capital Market Commission and the Bank of Latvia, complementing the provisions of this law, are binding on all credit institutions. The whole set of regulations for measuring the performance of credit institutions and for report submission procedure are in place and fully conform to the EU standards. Banking legislation The legislative framework for banking in Latvia meets the EU requirements in full, and, in some areas, local legislative requirements are even more rigorous. The International Accounting Standards (IAS) have been fully introduced; banks' annual reports are prepared in accordance with IAS and audited by internationally recognised auditing firms. Practical supervision of the banking sector is very tight and bank inspections are conducted more frequently than in the EU member states. The principal relevant Law on Credit Institutions (in force since October 24, 1995) has been amended on several occasions. The regulations of the Financial and Capital Market Commission and the Bank of Latvia, complementing the provisions of this law, are binding on all credit institutions. The whole set of regulations for measuring the performance of credit institutions and for report submission procedure are in place and fully conform to the EU standards. JSC "Akciju komercbanka "Baltikums"" has increased the share capital of Investment Management JSC "Baltikums Asset Management" 25.08.2006 JSC “Akciju komercbanka “Baltikums”” (the Bank) has increased the share capital of its daughter company Investment Management JSC “Baltikums Asset Management” by LVL 1.07 million. After the increase paid up share capital of Investment Management JSC “Baltikums Asset Management” is LVL 2.5 million. The funds raised as a result of a new Investment Management JSC “Baltikums Asset Management” share issue were directed towards increasing the company's interest in life insurance company JSC “Baltikums Dz?v?ba” with the aim of accumulating a 93% stake. The decision on the increase was related to the intention of the Bank's shareholder to restructure JSC “Baltikums Bankas Grupa” and JSC “Baltikums Apdro?in??anas Grupa”. As a result of the restructuring, Baltikums Group’s investment and savings business was separated from risk insurance business by putting the full spectrum of investment and savings services (asset management, management of investment and pension funds, life insurance) under the management of the Bank and its daughter companies.