OREANDA-NEWS. October 08, 2009. International publication Global Finance Magazine announced the best banks globally in 11 categories and the best banks in 123 countries in its review World’s Best Banks 2009. Aizkraukles banka was included in the list of the best banks globally as well, being recognised as the best bank in Latvia, reported the press-centre of Aizkraukles Banka.

In assessment of the banks, the expert team considered both objective and subjective factors. Objective criteria included development of new business processes and product innovation, growth in assets, geographic reach and other indicators. Subjective criteria included the opinions of recognised credit-rating analysts, banking consultants and corporate financial specialists.

According to Global Finance, the winners are not always the biggest banks but, rather, the banks with the qualities that corporations look for when choosing a bank.

“A year after the failure of some major financial institutions, companies and investors are looking for assurance of their banks’ credit-worthiness,” said Joseph Giarraputo, publisher of Global Finance. “But also, more than ever, they are demanding superior competence. Hopefully, these lists will help them find the most competent financial partners.”

Since 1987, Global Finance Magazine has been a reliable source of news and analytical materials for officers responsible for making important financial decisions around the world. The magazine has over 180 thousand readers in 163 countries. Global Finance has selected the best banks globally for 13 years now.

AS Aizkraukles banka is 100% owned by Latvian shareholders. The Bank’s majority shareholders are Olegs Fils — 47.04% shares, Ernests Bernis and Nika Berne — 47.04% shares. The aim of Aizkraukles banka is to become the leading independent private bank in the Eastern Europe, combining all banking services, incl. asset management and advisory services, in a single customer-tailored offer. Aizkraukles Banka Group includes IPAS AB.LV Asset Management, IBAS AB.LV Capital Markets and other companies.