Euromoney awards Parex banka for excellent private banking services in Latvia and Lithuania

The international business magazine Euromoney has announced the results of its Private Banking Survey 2009, and Parex banka has received the award for “Best Private Banking Services Overall” in Latvia. Additionally, Parex banka has received the confirmation of excellence as the best in the Latvian market in three more categories - “Net- Worth-Specific Services”, “High Net Worth” and “Ultra High Net Worth”. Moreover, Bank’s daughter company in Lithuania Parex Bankas has received the “Best Local Bank” award.

Commenting on the awards, Ineta Done, Deputy Vice President, Head of Private Banking Department, said: “I have always considered that Parex banka offers top-quality private banking services and we are able to challenge European banks with more longstanding private banking traditions. Recently our clients express their appreciation of our services quite frequently, and this is the highest possible evaluation of our work!” I.Done noted that the credit for these awards belong to the employees of Parex banka – private bankers, assistants and managers, who all are high-class professionals. “We certainly have to thank also those who voted for Parex banka in this survey,” Head of Private Banking Department added.

Euromoney’s Private Banking Awards are the most prestigious in the growing area of wealth management. Covering over 60 countries each year, as well as global and regional awards, they are voted for by the people who know industry best – private bankers themselves. The annual Private Banking Survey provides a qualitative and quantitavie review of the best services in private banking by region and areas of service, taking into account, among other things, such factors as assets under management, profitability, ratio of clients to relationship managers, and other services