Financial Institutions

Banks, insurance companies, financial intermediaries and other institutions provide financial services to their customers or members.

Among major tasks of any financial institution, it is to:

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  • Entering the international market due to the bank guarantee

    For a long time our client’s business has been successfully developing in Latvia, but he could not reach an international business level to sign contracts abroad. Potential partners expected to have necessary bank guarantees on the performance of work, as well as experience to implement them.
    • The client was unable to acquire international experience of orders’ implementation, as far as no commercial bank wanted to take risks and responsibility to issue a guarantee to the client without any proper experience.

      We estimated our customers’ professionalism and experience in the Latvian market. His loyalty to our bank allowed us to issue him the unsecured guarantee for the realization of a small international contract.

    • In next 5 years, this small contract has been transformed into a multi-million dollar long-term deals, and our client’s income increased by 10 times.

      This qualitative development of the client's business has occurred also due to a small guarantee that we gave him after having carefully assessed all the existing risks.

    Vladislavs Serdjuks

    Head of Private Banking Department North