Rietumu Bank withdraws its membership from the Association of Latvian Commercial Banks

Added: 09.03.2016
On March 8, Rietumu Bank informed the Association of Latvian Commercial Banks (ALCB) on its intent to withdraw its membership from the Association. The decision of Rietumu Bank is connected with its business objectives and has nothing to do with the agenda and topicalities of ALCB.
Mārtiņš Bičevskis, the President of ALCB, commented on this step: “In order to achieve the banking industries common goals – to promote development of Latvia’s economy and banking sector - ALCB will continue to represent the interests of the absolute majority of the banking industry in Latvia at the organisations of entrepreneurs, state and municipality institutions. The withdrawal of Rietumu Bank is leaving no implications on the ALCB’s agenda and working environment”.

There are 23 members of ALCB – 20 members (banks and foreign branches of banks registered in Latvia) and 3 associated members.

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