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Parex banka denies speculations about the return of former shareholders to the Bank
Emitents Reverta, AS (iepriekšējais nosaukums - Parex banka, AS) (097900BHBR0000064855)
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Datums 2009-03-11 16:25:06
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Parex banka denies the possible return of the former shareholder and president Valery Kargin to the Bank. Such decision has never been planned or discussed neither by the Board, nor by the Council of the Bank.
 
However, Parex banka is planning to enforce its team with high-level professionals experienced in international markets, including the work with customers in Russia and CIS. As reported earlier, on 10 March, Nils Melngailis, Chairman of the Management Board of Parex banka proposed to extend the Board by two highly skilled banking experts - Roberts Idelsons, President of Parex Asset Management, and Druvis Mūrmanis, Head of Corporate Customers Lending Division.
 
As noted by N.Melngailis, currently the top priority of the Bank is the development and implementation of the new business plan to increase Parex banka’s value. Enhancement of the Management Board will ensure intensive work at the loan restructuring, development of new services and advancement of new business directions, including the development of venture capital management services, where Parex banka already now is able to stand the competition of other European banks.
 
About Parex banka:
 
Founded in 1992, Parex banka offers universal banking services throughout the Baltic region, the CIS and other European nations such as Germany, Switzerland and Sweden. Parex Group companies operate across the banking, finance, leasing, asset management and life insurance sectors. Parex banka is the only partner of American Express in Latvia and Lithuania, allowed to issue American Express credit cards. Since 27 February 2008, the Latvian Privatisation Agency is the majority shareholder of Parex banka.
 
Additional information:
Indra Zinkevica
Head of Corporate Communications and PR
Ph. +371 6777 8571 or +371 2913 9449
E-mail: pr@parex.lv
http://www.parexgroup.com/en/
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