OREANDA-NEWS. On June 02, 2008 The international credit rating agency Fitch Ratings has affirmed its previous long-term rating of Parex banka at BB+ with a stable outlook. Other previous ratings have also been affirmed at short-term B, individual C/D and support 3, reported the press-centre of Parex banka.

In a statement, Fitch Ratings notes the strong market position of Parex banka, its leading role as a service provider to non-residents as well as its stable income base. It also confirms that the evaluation of ratings considers risk following a slowing down of the pace of Latvia's economy alongside such factors as operational risk, capital base and the management structure of Parex banka.

In comparison with the end of 2006, the loan portfolio of Parex banka, as at 31 st December 2007, increased by 32% to LVL 1,738 million, while deposits amounted to LVL 1,909 million, an increase of 31%.

At the end of April 2008, Parex banka was the largest bank by deposits with a 19.8% market share and the second largest by assets with a 14,4% market share.