OREANDA-NEWS. August 25, 2009. Within the framework of Parex banka’s American Express sales and marketing strategy for 2009, the Financial and Capital Markets Commission (FCMC) has allowed the Bank to issue credit cards with credit limit, reported the press-centre of Parex Banka.  

Senior Vice President Guntis Belavskis indicates: “Methodically working to stabilize the Bank we have arrived to the next step and will resume the issue of credit cards. This certifies that the Bank has chosen the right direction of development. Nevertheless, considering the current market situation and the large proportion of overdue payments, we will initially carry out serious research and issue cards with a lesser credit limit to reduce the risk of overdue payments.”

Parex banka has issued 407 thousand payment cards accounting for 16% of the card market in Latvia. The proportion of credit cards stands at 19% of all credit cards issued in this market. Parex banka is the only partner of American Express in Latvia and Lithuania.