# Swedbank Latvia

> bank in Latvia, part of the banking group Swedbank

**Wikidata**: [Q104429642](https://www.wikidata.org/wiki/Q104429642)  
**Source**: https://4ort.xyz/entity/swedbank-latvia

## Summary
Swedbank Latvia is a bank operating in Latvia and a constituent part of the Swedbank banking group. Established on May 14, 1992, it functions as a joint-stock company (akciju sabiedrība) headquartered in Riga, providing a range of monetary intermediation and financial services.

## Key Facts
- **Entity Type**: Bank (instance of financial institution).
- **Parent Organization**: Swedbank Baltics (owned 100% since October 1, 2021).
- **Location**: Headquarters in Riga, Latvia; specifically at Balasta dambis 15, LV-1048.
- **Coordinates**: 56.94916388888889°N, 24.08923888888889°E.
- **Founded**: May 14, 1992.
- **Legal Form**: Joint-stock company (akciju sabiedrība).
- **Employees**: 1,254 (2023, preferred); 1,248 (2022).
- **Net Profit**: €235,598,000 (2023, preferred); €103,070,000 (2022).
- **Total Assets**: €9,298,075,000 (2023, preferred); €8,520,207,000 (2022).
- **Legal Entity Identifier (LEI)**: 549300FXBIWWGK7T0Y98 (active since June 6, 2013).
- **Unified Registration Number**: 40003074764.
- **OpenCorporates ID**: lv/40003074764.
- **Historical Affiliation**: Part of Hansabank Group (associated with AS "Hansabanka") until 2008.
- **Website**: https://www.swedbank.lv/ (Latvian language).

## FAQs
**What are the financial standings of Swedbank Latvia?**
As of 2023, Swedbank Latvia reported total assets of €9,298,075,000 and a net profit of €235,598,000. The bank employed 1,254 individuals in the same year.

**Who owns and controls Swedbank Latvia?**
Swedbank Latvia is a wholly owned subsidiary of Swedbank Baltics, which holds 100% ownership as of October 1, 2021. Historically, it was part of the Hansabank Group until 2008.

**What industries does the bank operate in?**
The bank engages in diverse financial activities including other monetary intermediation, financial leasing, credit granting, and activities auxiliary to financial services (excluding insurance and pension funding).

**How is the bank identified in legal and registration systems?**
The bank is registered in Latvia with the unified registration number 40003074764 and holds the Legal Entity Identifier 549300FXBIWWGK7T0Y98. It is also listed in OpenCorporates under the ID lv/40003074764.

## Why It Matters
As a prominent banking institution in Latvia, Swedbank Latvia serves as a critical financial intermediary for the region. Its substantial asset base of over €9 billion and workforce of over 1,200 employees underscore its significant role in the Latvian economy. The institution bridges local financial needs with the broader stability and resources of the Swedbank group, facilitating monetary intermediation, credit granting, and financial leasing services essential for personal and commercial growth.

## Notable For
- **Substantial Asset Growth**: Increased total assets from €8.5 billion in 2022 to over €9.2 billion in 2023.
- **Profitability Surge**: Achieved a net profit of €235.5 million in 2023, more than double the €103 million recorded in 2022.
- **Corporate Lineage**: Transitioned from the Hansabank Group ecosystem to the Swedbank Baltics structure, reflecting major shifts in Baltic banking history.
- **Compliance**: Maintains a Legal Entity Identifier (LEI) and detailed public registration records, adhering to global and local transparency standards.

## Body

### Corporate Structure and Ownership
Swedbank Latvia operates as a joint-stock company (akciju sabiedrība) and is formally classified as a bank. It functions under the ownership of **Swedbank Baltics**, which holds a 1.00 (100%) stake in the entity. This ownership structure has been active since October 1, 2021. Historically, the bank was part of the **Hansabank Group**, associated with the entity AS "Hansabanka," until the conclusion of that relationship in 2008.

### Financial Performance
The bank has demonstrated significant financial activity in recent years, with clear data points for 2022 and 2023:

- **Total Assets**:
  - 2022: €8,520,207,000.
  - 2023: €9,298,075,000 (preferred value).
- **Net Profit**:
  - 2022: €103,070,000.
  - 2023: €235,598,000 (preferred value).
- **Employee Count**:
  - 2022: 1,248 employees.
  - 2023: 1,254 employees (preferred value).

### Industry Operations
Swedbank Latvia operates across multiple sectors within the financial industry. Its primary activities include:
- Other monetary intermediation.
- Other credit granting.
- Financial leasing.
- Other financial service activities (except insurance and pension funding).
- Activities auxiliary to financial services (except insurance and pension funding).

### Location and Contact
The bank is headquartered in **Riga, Latvia**. Its physical address is **Balasta dambis 15, Rīga, LV-1048**. The precise geographical coordinates of its headquarters are latitude 56.94916388888889 and longitude 24.08923888888889. The postal code for the location is 1048.

### Identifiers and Registration
The entity is registered and identified through several global and local systems:
- **Latvian Unified Registration Number**: 40003074764.
- **Legal Entity Identifier (LEI)**: 549300FXBIWWGK7T0Y98 (assigned June 6, 2013).
- **OpenCorporates ID**: lv/40003074764.
- **Website**: The official online presence is maintained at `https://www.swedbank.lv/`, which serves Latvian language users.

### History
The bank was originally founded on **May 14, 1992**. Its evolution includes a significant period as part of the Hansabank Group, marked by the qualifier "AS 'Hansabanka'" ending in 2008, before its integration into the current Swedbank Baltics parent structure.

## 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/40003074764)
3. Register of Enterprises of the Republic of Latvia