Maximum Recovery of State Aid

A new beginning

1 August 2010 marked the beginning of a new path for Parex banka – as a result of successful completion of restructuring, Parex bank commences its activity as a resolution bank, acting in tax payers’ interests with the sole purpose of maximizing the recovery of State aid.

 

In order to achieve its goals, activity of Parex bank is focused on effective restructuring of loans and management of repossessed collateral, the majority of which is real estate. Based on overall economic recovery and expected increase in value of the assets, Parex bank ensures professional management of its assets and repossessed properties, which will be disposed in orderly manner to ensure the best possible return for the State and the Latvian tax payers.

 

Activity of the restructured Parex bank does not include accepting deposits or payments, issuing new loans, attracting clients or other traditional banking services.

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