Wed, 7 Sep 2011: Brigmanis says airBaltic can go…
Sep 7, 2011 Baltics
However, when assessing the opportunities, it is also necessary to take into account the state’s financial opportunities and ability to ensure adequate management of the airline,” he e...Tags: Adequate Management, Airbaltic, Airline, Bank Scenario, Farmers, Greens, Hostage, Lats, Losses, Parex Bank
Wed, 18 May 2011: Latvia shoots for 2.5 percent deficit…
May 18, 2011 Latvia
Bicevskis confirmed that next year, Latvia will resolve to keep its budget deficit below 3 percent of gross domestic product (GDP) and will try to reach a 2.5 percent budget deficit. The governmen...Tags: 100 Million, Banka, Budget Deficit, Financial Sector, Gdp, Government Predicts That, Gross Domestic Product, Lats, Latvia, Mortage, Parex Bank, Restructuring, Rsquo, S Sales, Sales Strategy, State Budget
Wed, 11 May 2011: Parex ends syndicated loan debacle…
May 11, 2011 Baltics
It proves gradual economic recovery of Latvia and the correctness of the strategy chosen for tackling problems in the banking sector, said Gwilliam. According to Parex Bank’s restructuring...Tags: Assets, Banking Sector, Correctness, Debacle, Economic Recovery, Finance Ministry, Latvia, Non Performing Loans, Parex Bank, Restructuring, Rsquo, Selling Securities, State Treasury, Syndicated Loan
Wed, 2 Mar 2011: Disgruntled shareholders claim rights…
Mar 2, 2011 Baltics
The value of investment by Parex Bank minority shareholders has reduced significantly since the government bailed the bank out in 2008. The transfer of Parex Bank so-called ‘good’ as...Tags: Assets, Borrowings, Economy, Global Financial Crisis, High Risk, Latvian Government, Latvian State, Minority Shareholders, Money, Parex Bank, Poor Management, Sums, Syndicated Loans, Western Banks
Wed, 8 Dec 2010: Parex sticks to plan…
Dec 8, 2010 Baltics
30 this year, total assets - 859.7 million lats and 866.4 million lats, respectively. Capital and reserves were 74.5 million lats for Parex bank and 78.4 million lats for Parex Group. Taking int...Tags: Asset Management, Assets, Bank Loan, High Quality, Lats, Lenders, Loan Portfolio, Money, Parex Bank, Professional Team, Quality Specialists, State Assistance, Syndicated Loan, Taking Into Consideration
Wed, 18 Aug 2010: Recovering Parex investments a ‘long shot’…
Aug 18, 2010 Baltics
This can only be done through maximizing the value of the bank’s assets. Selling the bank is not realistic at the moment, said Gwilliam. He also said that the restructured Parex bank had b...Tags: Borrowers, Debt Collection, Debtors, Debts, Economic Recovery, Investments, Investors, Market Situation, Necessary Calculations, Parex Bank, Problem Assets, Problem Loans, Rsquo
Wed, 19 May 2010: State to wait for payoff…
May 19, 2010 Baltics
The sum of the loans is not specified in the agreement; however, according to the provisions, part of this money will immediately return to Parex. As previously reported, Rietumu bank and Parex h...Tags: Acquisition, Alexander, Assets, Bank Subsidiary, Belarus, Business Activities, Ceo, Diversification, Dynamic Growth, Leasing Activity, Loans, Money, New Horizons, Parex Bank, Provisions, Rietumu Bank, Subsidiary Company, Term Strategy
Thu, 8 Apr 2010: Investors scramble after Parex assets…
Apr 8, 2010 Baltics
It is hoped that as the global economy rebounds, some or all of these assets can recover their value and the State, or the taxpayers, can recoup the ‘investment.’ The Latvian governm...Tags: Assets, Beneficiaries, Consulting Company, Depositors, Financial Foundation, Global Economy, Investors, Latvian Government, Latvian Institute, New Era, Nomura International, Parex Bank, Prime Minister, Proposal, Restructuring, Rsquo, Taxpayers
Wed, 24 Feb 2010: Parex requests new syndicated loans…
Feb 24, 2010 Baltics
There is a lack of lending, a void in the banking business.” Waiting until after October’s parliamentary elections to sell Parex would be the “biggest mistake anyone could mak...Tags: Biggest Mistake, Collapse, Lats, Lending Money, Parex Bank, Parliamentary Elections, Rsquo, Syndicated Loans
Wed, 29 Jul 2009: EBRD says more restructuring needed for Parex …
Jul 29, 2009 Baltics
The EBRD will buy 25 percent plus one share in the bank. He remains cautious that in today's economic climate, "it will be very hard to find strategic partners that will be able to make investment...Tags: Ebrd, Economic Climate, Euros, Investments, Lats, Latvia, Loan Agreement, Nils, Parex Bank, Precondition, Restructuring, Stake, Strategic Partners, Subordinated Loan
Thu, 23 Jul 2009: EBRD to acquire stake in Parex bank …
Jul 23, 2009 Baltics
The bank continued its losses into the first quarter of this year, reporting 6.9 million lats in the red. In cost cutting moves, total staff costs are expected to be reduced by 38 percent, or 16 m...Tags: Cost Cutting, Ebrd, First Quarter, Lats, Losses, Parex Bank, Public Relations, Salary Cuts, Staff Costs, Staff Reductions, Stake
Thu, 14 May 2009: Parex Bank to restructure…
May 14, 2009 Baltics
"We need to centralize support functions and insure that they give services to those who work with clients according to market principles," said Melngailis. Parex Bank will still offer its usua...Tags: Led, Market Principles, Parex Bank, Private Bank, Private Capital Management, Small Business Loans, Support Functions
Wed, 25 Mar 2009: Latvian businesses to receive 200 million euros from EBRD…
Mar 25, 2009 Latvia
The specific amount of the financing would depend on the needs of the company. Freeman pointed out that the EBRD policy was to provide support to private businesses and aid in development. In 80 t...Tags: Acquisition, Cooperation Partners, Ebrd, European Banks, European Investment Bank, Euros, Final Decision, Freeman, Lent, Parex Bank, Private Businesses, World Bank
Wed, 10 Dec 2008: Nils Melngailis named new Parex CEO …
Dec 10, 2008 Baltics
"I hope that I will be able to help in this situation to manage and stabilize the situation in the bank and raise the necessary funds so that not only Parex Bank can continue to operate successfu...Tags: Appointment, Banking Sector, Banking System, Ceo, Ebrd, Economy, Imf Officials, International Monetary Fund, International Monetary Fund Imf, Necessary Funds, New Hope, Parex Bank, Time Consultations
Wed, 19 Nov 2008: Parex Bank posts losses “tens of millions” …
Nov 19, 2008 Baltics
We still have to work with non-residents," he said. The bank, which is poised to be taken over by the Latvian government, will continue functioning and even reports new accounts being opened. FKTK...Tags: Bank Shareholders, Finance Ministry, Latvian Government, Loan Providers, Loan Repayment, Losses, Maturity, Members, Negotiations, New Accounts, Non Residents, Parex Bank, Syndicate, Syndicated Loans, Tens
Wed, 5 Nov 2008: Parex Bank registers massive bonds …
Nov 5, 2008 Baltics
The board of the Finance and Capital Markets Commission decided to register the 53,500 bonds, issued by Parex Bank, for listing on the stock exchange, with the face value set at 100 euros for one...Tags: Bank Bonds, Capital Markets, Co Owner, Face Value, Finance, Jurmala, Latvia, Latvian Business, Parex Bank, Reason, Seaside Resort City, Smile Bank, Stock Exchange, Villa Marta, Wed 5, Wedding Gift
Wed, 23 Jul 2008: Hansabank: negative growth ahead…
Jul 23, 2008 Baltics
Though the slowing global economy is impacting export growth, "Economic recovery will be mostly driven by exports, as the drop in domestic demand will be steeper and longer, and a significant inc...Tags: Ahead, Business Activity, Economic Recovery, Gauge, Global Economy, Growth Prospects, Household Consumption, Investments, Latvia, New Home Construction, Parex Bank, Private Sector, Public Sector, Purchasing Power, Sentiment, Unemployment
Wed, 19 Sep 2007: New York finance group to lead Latvia’s 427 million euro telecom deal…
Sep 19, 2007 Latvia
Nils Melngailis, CEO of Lattelecom, said that of the 300 million lats (427 million euros) needed to pull off the deal, approximately 200 million will come from a syndicate of banks, while Blacks...Tags: Aims, Banks, Blackstone, Ceo, Company Management, Consortium, Dnb, Euro, Finance Group, Invest, Lats, Latvia, Nordea, Parex Bank, Proposal, Syndicate, Telecom Deal, Telecommunication Company, Unicredit
Wed, 4 Jul 2007: Parex secures record syndicated loan …
Jul 4, 2007 Baltics
"We are proud to be the first Latvian private bank to enter this market and delighted to once again set the market benchmark with this record-breaking amount of 500 million euros as the largest ...Tags: Assets, Baltic News, Baltic Times, Benchmark, Business Purposes, Debt Capital Markets, Euros, Fina, General Business, Hansabanka, Investment Banking, Latvia, Parex Bank, Private Bank, Remainder, Seb Unibanka, Syndicated Loan
Wed, 27 Sep 2006: Latvia: Ventspils Nafta, Russia best partner…
Sep 27, 2006 Latvia
Representatives from at least 10 companies and investment funds expressed interest in buying Ventspils Nafta during the London road-shows, which were organized by Parex Bank and IBT Suprema. Peter...Tags: Auction, Bidders, Global Investment Funds, Interested Companies, Investment Proposals, Investor Profile, Investors, Latvia, Latvian Privatization Agency, London Road, Parex Bank, Partner Representatives, Russia, Typical Investor, Ventspils Nafta
Thu, 7 Sep 2006: State agency approves Ventspils Nafta sell-off …
Sep 7, 2006 Baltics
Under the plan, which was also approved by Latvijas Naftas Tranzits, the largest shareholder of Ventspils Nafta, the 38.62 percent stake will be sold via a so-called Dutch auction in various lots....Tags: Auction Price, Dutch Auction, Economy Minister, Investors, Lats, Nafta, Naftas, Parex Bank, Percent Stake, Selloff, Shareholder, Unsold Stock, Ventspils
Wed, 30 Aug 2006: Oil terminal sale ready for approval …
Aug 30, 2006 Baltics
The final sale price will be the highest by which all shares can be sold. All shares will be sold during one trading session on the Riga Stock Exchange. Martins Jaunarajs, head of Parex Bank's i...Tags: Banking Service, Economy Minister, Formal Presentations, Investment Banking, Investors, Krisjanis Karins, Latvian Privatization Agency, Oil Terminal, Parex Bank, Parliamentary Elections, Proposal, Riga Stock Exchange, Trading Session, Ventspils Nafta
Wed, 9 Aug 2006: Poles ponder Ventspils oil terminal…
Aug 9, 2006 Baltics
PKN Orlen representatives are planning to meet with Latvia's Privatization Agency and a consortium set up by Parex Bank, IBS Suprema and Suprema Securities, local investment firms acting as cons...Tags: Auction, Bidders, Consortium, Control, Economy Minister, High Profile, Ibs, Investment Firms, Nafta, Naftas, Oil Terminal, Parex Bank, Percent Stake, Private Firm, Privatization Agency, Riga Stock Exchange, Ventspils