OREANDA-NEWS. May 24, 2011. In recognition of the successful operation of SEB in Latvia and its achievements during last year, the international financial magazine EMEA Finance in its annual Europe Banking Awards 2010 has named SEB as the Best Bank in Latvia. It is the third year in turn that EMEA Finance experts have awarded SEB with the highest rating of all commercial banks in Latvia, reported the press-centre of SEB.

"SEB Latvia's performance last year, particularly its 5.2m profit, is testament to the management team's focused approach to business. The bank is still lending and increasing deposits, and is a worthy recipient of our Best Bank in Latvia award," says Tim Burke, Editor of EMEA Finance.

"I am pleased with the fact that also during economic downturn, SEB in Latvia has managed to establish itself as a stable, long-term partner for it`s customer, providing support and the required financial instruments both to corporate customers and private individuals. It is our advised operation and strategy that have enabled us to become the best bank in Latvia for the third time," says Ainars Ozols, CEO of SEB in Latvia.

The experts of EMEA Finance grant their nominations on the basis of the banks' operating and capital adequacy ratios, innovation in service and technologies, the amount of loans issued by the bank and volume of deposits, growth in the number of clients, etc. The magazine awards the leading banks in the region that are one step ahead of their competitors.

EMEA Finance is an international financial magazine that provides insight into the economic processes in the countries of Europe, the Middle East, and Africa. The magazine provides information, research, and expert reports critical to professionals who are active in the region or who want to enter it.