Eastern European Markets
March 23, 2005

Maras Banka becomes Sampo Banka and broadens customer offering

Maras Banka changes its name to Sampo Banka effective March 22. The change of name is part of the strategy to incorporate the bank into Sampo Group. Maras Banka was acquired by Sampo Bank plc Finland in November last year and the Latvian authorities cleared the transaction on December 10.

"As a member of Sampo Group, Sampo Banka will be able to broaden significantly the range of products and services offered to it's customers" says Sampo Banka Chairman of the Board Robertas Cipkus: "This gives us access to Sampo Bank's large resources and broad knowledge. At the same time we are committed to keep our personal touch with our clients ".

New offers to Sampo Banka's customers will include internet banking, a broader and more attractive mortgage loan offering, credit cards and a variety of savings and investment products.

Sampo Bank will gladly continue to support Latvia's education system through the Vitols charity foundation. Sampo Group is a financial services group, and it´s banking operations were established in 1887 in Finland. It comprises If, the leading P&C insurance company in the Nordic and Baltic countries, and Sampo, Finland's leading bank specialising in long-term savings, that has operations in Estonia, Latvia and Lithuania. Sampo Group is operating in eight countries and has 12,000 employees.

Sampo Bank plc is specialising in investments, savings and traditional banking products. In Finland, Sampo bank serves more than one million private customers and almost 100,000 companies and institutions

Maras Banka was established in 1996 and 100 per cent of the stocks are owned by Sampo Bank plc. Maras Banka improved its performance in all areas in 2004: new depositors, reached 22.3 million lats (increase +64.7%) and the loan portfolio increased by 17.3%, reaching 24.2 million lats. The result of the financial year 2004 was 254 thousand lats profit.

For further information:
Robertas Cipkus
Chairman of the Board
phone +371 720 1255 or
Normunds Rudzitis,
marketing specialist
phone +371 720 1272

Compiler´s choice - More News Releases

 TERMS & CONDITIONS / KÄYTTÖOIKEUDET. © Oy Compiler Ab. All rights reserved.