OREANDA-NEWS. September 17, 2009. The Parex Bank will change its legal address. From now on it will be Republikas Square 2a in Riga, which is the bank’s new headquarters, reported the press-centre of Parex Bank. 

A new branch of the bank will open its doors at the new building on Monday, too. Clients will be able to use the bank’s services there from 8:00 AM to 8:00 PM on weekdays. The plan is to turn the branch into the bank’s primary client service centre in Riga. It will offer the widest range of banking products and services. New client service standards will be introduced so as to speed up the provision of services and to concentrate the process of client loans in a single location in Riga.

As has been reported in the past, the bank’s employees are currently moving to the new administrative building. The bank will save LVL 2.7 million a year by moving out of leased facilities in 11 buildings in the Latvian capital city. Administrative costs will also decline – the overall decline in the first half-year was LVL 12.5 million, while the bank expects to save fully LVL 30 million by the end of the year.