OP Corporate Bank strengthens its position in the Latvian market

[19.04.2018]

Finland's leading financial services company bank OP Corporate Bank plc Latvia Branch concluded 2017 with the most rapid growing legal entity loan portfolio in the market, according to the Latvian Commercial Bank Association (LKA) data published in the last quarter of 2017.

"With the growing visibility of the OP Bank in the region, more and more entrepreneurs appreciate the opportunities and financial solutions we provide as a leading financial services bank in Finland. We are pleased that OP Bank teamwork has gained the confidence of Latvian entrepreneurs and it has become a solid business partner on the path to business growth," emphasises Elmārs Prikšāns, Head of OP Corporate Bank plc Latvia Branch.

According to data published by the LKA, due to the growing legal customer loyalty, the loan portfolio of the OP Corporate Bank Latvia branch plc has grown by EUR 109.4 million in 2017, the largest increase in the Latvian market. In turn, the bank's assets have grown by 24.5% per year, the second largest growth in the Latvian market.

While assessing the expected challenges for entrepreneurs in the future, Elmārs Prikšāns specifies: "Improving labour productivity and promoting innovation will be an important factor for the long-term growth of Latvian enterprises. At the same time, entrepreneurs need to think about conquering new export markets. As a stable partner, OP is working on developing new competitive offers and improving existing financial solutions today to meet the ambition of entrepreneurs. We are confident that this work will bring positive results in the future."