OREANDA-NEWS. March 01, 2010. Parex banka saw an increase in deposits of more than LVL 52 million in February 2010, with deposits increasing in nearly all client segments. Corporate and institutional clients, depositing more than LVL 25 million, mainly granted the increase. The sector of individuals and small and medium companies contributed more than LVL 10 million, while the clients of private bankers deposited more than LVL 9 million, reported the press-centre of Parex Banka.

In line with the market trends, Parex banka will lower interest rates on deposits as of March 1; however, they will remain among the highest in the market. Clients who deposit money by March 1 will continue to receive the high interest rates posted on the bank’s homepage www.parex.lv.

Guntis Belavkis, head of the Retail and SME Service Sector: “As deposit volumes have stabilised, banks have gradually been reducing their interest rates on deposits since the beginning of this year. Parex banka is no exception in the market, but we are going to continue to offer more advantageous deposit products to private individuals and companies.”

Parex banka has approximately 380,000 clients and a widespread network of branches throughout Latvia – 32 client service centres in Riga and 30 in regions. The bank offers a wide range of services to individuals, companies and clients using private banking services.