OREANDA-NEWS. On January 28, 2009 it was announced that the deal between SC Parex banka and SC Latvijas Krajbanka on sale of AP Anlage und PrivatBank AG in Switzerland has been extended until 24 April 2009, reported the press-centre of Parex banka.

Accompanied with Chairman's of Parex banka visit to Freienbach, Switzerland, the Bank acknowledges that Swiss subsidiary is integral part of its business activity and further development.

In accordance with agreement between SC Latvijas Krajbanka and SC Parex banka , SC Krajbanka the deadline of conclusion of the deal has been extended until 24 April 2009. Overall tendencies and conditions in the global financial markets underlie the decision to extend the deadline.

In its turn, AP Anlage und Privatbank AG has reported preliminary business results for 2008 showing significant increase by 32% in the number of its clients and overall positive net profit in 2008 despite vulnerable market conditions. Parex banka has acquired AP Anlage und Privatbank AG in February 2004 and since 2005 the Swiss subsidiary of Parex banka demonstrates stable and sound profitability of the business.

Nils Melngailis Chairman of Parex banka comments: „AP Anlage und Privatbank AG is an integral part of Parex Group as it broadens the scope of services provided by the Group's companies.”