Baltic Business

WEEK 33rd 2003

Friday, 15th of August, 2003

More inhabitants – more cards
According to data from LETA-EPI, by the end of June, the commercial banks of the Baltic States had issued a total 4.45 million payment cards, from which 1.9 million were issued in Lithuania, 1.41 million in Latvia, and 1.13 million in Estonia. The leader in Latvia's banking market is Hansabanka, with a total of 372.300 issued payment cards. Hansabanka is followed by Parekss Banka with 228,300 issued payment cards, and Unibanka with 291,000. Latvian banks have started offering smart cards to their customers. The leader in introducing new technologies in Latvia is Unibanka, which has issued 11.500 smart cards, while Hansabanka has issued 6,000. It is estimated that by the end of this year, Unibanka will have issued a total of 30,000 smart cards, whereas Hansabanka and Parekss Banka will have issued 10,000 smart cards each. Until now, only VISA smart cards are being issued, but it is expected that Eurocards will enter Latvia's market.
(Kommersant Baltic Daily)

Thursday, 14th of August, 2003

Volume of cargos grow
In the first seven months of this year, there have been transported 29.13 million tons via the railroad. The volume of the international cargos has increased by 22.8% reaching 27.82 million tons, whereas the volume of the import cargos has grown by 21.6%, but export – by 33.1%. There have been transported 1.3 million tons, which is an increase of 15.4% via the domestic railroad in the first seven months of this year.
(Dienas Bizness)

Wednesday, the 13th of August, 2003

Leading position – Ergo Latvija
In the first six months of this year, the leader of the insurance market of Latvia, the company Ergo Latvija Dziviba, has managed to significantly increase its share at the market. Now the company has 39.9% of the insurance market. 
(Dienas Bizness)

Tuesday, 12th of August, 2003

Moody's confirms Latvia's rating
The international credit rating agency Moody's confirmed that Latvia's rating is in the same level as it was in November 2002, when the agency increased Latvia's rating to A2. Moody's informs that Latvia's integration into the EU, the stability of the financial system, and a low and well-manageable dept of the state are the factors to provide the rating.
(Dienas Bizness)

Monday, the 11th of August

Top of most reliable banks constant
According to the safety rating of the polling centre SKDS, the most reliable bank this year is Hansabanka, which was acknowledged by 45.4% of respondents. Latvijas Unibanka with 38.6% takes the next place, whereas Parekss banka with 37.1% is in the third place.

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