At a meeting this week, Nils Melngailis, the Chairman of Parex banka, and Alex M Furber, American Express Vice President in Central and Eastern Europe, agreed to explore further options for co-operation. Following the meeting Nils Melngailis said that Parex banka sees opportunities in current market conditions to strengthen its position in the credit card market through its exclusive relationship with American Express.

“As a result of the very successful co-operation between Parex banka and American Express in the past, American Express are now looking to explore new opportunities with us. We welcome these discussions and intend to expand the Bank’s activities in the Latvian credit card market. One of the great strengths of Parex banka is the loyalty of our clients to our brand and we will build on this as part of developing our new growth strategy,” the Chairman of Parex banka emphasised.

In 2005, Parex banka was granted exclusive rights to distribute American Express credit cards in Latvia and today it offers three types of credit cards: American Express Platinum, American Express Gold and Blue from American Express. These cards are unique because they are designed to serve local customers at home and abroad to meet their evolving lifestyle needs by providing access to exclusive benefits and services that only these American Express Cards can provide.