# LPB Bank

> legal entity in Latvia

**Wikidata**: [Q104429626](https://www.wikidata.org/wiki/Q104429626)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Magnetiq_Bank)  
**Source**: https://4ort.xyz/entity/lpb-bank

## Summary
LPB Bank is a financial institution and legal entity headquartered in Riga, Latvia. Established on September 5, 2008, it operates as a joint-stock company (akciju sabiedrība) specializing in monetary intermediation, credit granting, and financial services. The bank is also known by the aliases Latvijas Pasta Banka and Magnetiq Bank.

## Key Facts
- **Inception Date**: September 5, 2008.
- **Headquarters**: Brīvības iela 54, Rīga, LV-1011, Latvia (Coordinates: 56.955688, 24.121004).
- **Legal Form**: Akciju sabiedrība (Joint Stock Company).
- **Primary Industry**: Other monetary intermediation, security and commodity contracts brokerage, and administration of financial markets.
- **Employees**: 210 (2023), down from 216 (2022).
- **Net Profit**: €423,000 (2023), down from €1,309,000 (2022).
- **Total Assets**: €164,095,000 (2023), down slightly from €164,994,000 (2022).
- **Registration ID**: Latvian Unified Registration Number 50103189561.
- **Legal Entity Identifier (LEI)**: 259400YE9CCQBVY41L71 (issued 2014-01-28).
- **Website**: https://lpb.lv/ (available in Latvian, English, and Russian).
- **Aliases**: Latvijas Pasta Banka, Latvian Pasta Bank, Magnetiq Bank.
- **Wikipedia Title**: "Magnetiq Bank".

## FAQs
**What is the legal status and registration of LPB Bank?**
LPB Bank is registered as a joint-stock company (akciju sabiedrība) and a legal person in Latvia. It holds the Latvian Unified Registration Number 50103189561 and the Legal Entity Identifier (LEI) 259400YE9CCQBVY41L71.

**Where is LPB Bank located and how can it be accessed?**
The bank's headquarters are located at Brīvības iela 54 in Riga, Latvia. It operates a multilingual website at lpb.lv, which supports Latvian, English, and Russian languages.

**What are the primary industries and services provided by LPB Bank?**
LPB Bank operates in several financial sectors, including other monetary intermediation, security and commodity contracts brokerage, administration of financial markets, and financial leasing. It also engages in activities auxiliary to financial services and insurance.

**How did LPB Bank's financial performance change between 2022 and 2023?**
The bank experienced a reduction in workforce from 216 to 210 employees. Net profit decreased from €1,309,000 in 2022 to €423,000 in 2023, while total assets slightly declined from €164,994,000 to €164,095,000 over the same period.

**What other names is LPB Bank known by?**
The entity is recognized under several aliases, including Latvijas Pasta Banka, Latvian Pasta Bank, and Magnetiq Bank (the title used for its English Wikipedia entry).

## Why It Matters
LPB Bank serves as a functional financial intermediary within the Latvian economy, facilitating credit granting, monetary intermediation, and leasing services. As a registered bank and legal entity, it contributes to the broader financial infrastructure, supporting activities ranging from market administration to auxiliary financial services. Its multilingual operational capacity (Latvian, English, Russian) allows it to serve a diverse client base in the region. The bank's financial data from 2022 to 2023 provides insight into its operational adjustments and economic resilience during that period.

## Notable For
- **Multilingual Digital Presence**: Operates a website (lpb.lv) fully localized into three languages: Latvian, English, and Russian.
- **Diverse Financial Portfolio**: Engages in a wide array of financial activities, from standard monetary intermediation to specialized services like trusts, funds, and commodity contracts brokerage.
- **Significant Profit Fluctuation**: Recorded a notable shift in net profit between 2022 (€1.3M) and 2023 (€423k).
- **Historical Identifiers**: Possesses a Legal Entity Identifier (LEI) active since January 2014, ensuring compliance with global regulatory standards.

## Body

### Corporate Identity and Structure
LPB Bank is a business and financial institution classified as a legal person. It was established on September 5, 2008, and operates under the legal form of an *akciju sabiedrība* (joint-stock company). The entity is recognized by multiple names, including its primary designation LPB Bank, the historical alias Latvijas Pasta Banka (or Latvian Pasta Bank), and the title Magnetiq Bank, which is used as its Wikipedia article title in English.

### Location and Headquarters
The bank is physically headquartered in the capital city of Latvia, Riga. The specific address is Brīvības iela 54, Rīga, LV-1011. The geographic coordinates for its headquarters are 56.955688 latitude and 24.121004 longitude. The postal code for the headquarters is 1011.

### Financial Performance and Metrics
LPB Bank's operational scale is defined by specific financial metrics reported for the years 2022 and 2023:
*   **Total Assets**: The bank managed total assets amounting to €164,994,000 in 2022, which slightly decreased to €164,095,000 in 2023.
*   **Net Profit**: Financial results show a net profit of €1,309,000 for the year 2022. In the following year (2023), the preferred reported net profit was €423,000.
*   **Workforce**: The number of employees fluctuated slightly, with 216 employees recorded in 2022 and a preferred count of 210 employees in 2023.

### Industry and Operations
As a bank, LPB Bank functions as a financial intermediary and credit institution, core characteristics of the banking industry. Its operational scope encompasses several specific industries:
*   **Monetary Intermediation**: Classified under "other monetary intermediation" and "other credit granting."
*   **Brokerage and Markets**: Involved in security and commodity contracts brokerage and the administration of financial markets.
*   **Auxiliary Services**: Engages in activities auxiliary to financial services and insurance, excluding pension funding.
*   **Leasing and Entities**: Provides financial leasing services and operates within the sector of trusts, funds, and similar financial entities.
*   **General Services**: Listed under "other financial service activities, except insurance and pension funding."

### Registration and Identifiers
LPB Bank is cataloged in numerous national and international registries:
*   **Latvian Unified Registration Number**: 50103189561.
*   **Legal Entity Identifier (LEI)**: 259400YE9CCQBVY41L71, with a start date of January 28, 2014.
*   **OpenCorporates ID**: lv/50103189561.
*   **Wikipedia Presence**: The entity has a sitelink count of 1, specifically in the English language under the title "Magnetiq Bank."

### Digital Presence
The bank maintains an official web presence at `https://lpb.lv/`. The website is structured to accommodate a multilingual audience, with specific subdirectories and language qualifiers for:
*   Latvian (`https://www.lpb.lv/lv/`)
*   English (`https://www.lpb.lv/en/`)
*   Russian (`https://www.lpb.lv/ru/`)

## References

1. [Global Legal Entity Identifier Foundation](https://search.gleif.org/#/search/fulltextFilterId=LEIREC_FULLTEXT&simpleFilters%5Bentity.addresses.country%5D=LV)
2. [Source](https://info.ur.gov.lv/#/legal-entity/50103189561)
3. Register of Enterprises of the Republic of Latvia