Norvik Banka becomes Vyatka Bank’s shareholder

16/10/2014 17:13

Following implementation of its development strategy, AS NORVIK BANKA has acquired shares of JSCB Vyatka Bank (Russia). After closing the deal Norvik Banka has become a holder of 97.75% of Vyatka Bank’s shares. Both the Financial and Capital Market Commission and an institution responsible for supervision over commercial banks in Russia are informed of the transaction.

“This is a planned step in the Bank’s strategy that allows us proceeding with targeted Bank development both in Latvia and another Bank’s target markets where the brand of both Norvik Banka and Vyatka Bank is well-recognized. We will continue our way to reaching the Bank’s strategic goal – to become one of the leading, technologically highly developed banks in Northern Europe,” said Oliver Bramwell, Chairman of the Board at Norvik Banka.

It should be recalled that this October AS NORVIK BANKA’s shareholders have made large investments in the Bank’s capital. 69 638 784 EUR have been invested in Norvik Banka’s equity capital. As a result of capital increase, Norvik Banka’s paid-up capital equals to 123 101 368 EUR. Considering these investments, as well as the Bank’s conducted marketing activities and development of new banking products, Norvik Banka has now entered its targeted development stage. The investment in question has no impact on the Bank’s cooperation with its customers or depositors.

Norvik Banka in Latvia:

  • The biggest bank in Latvia by the number of customer service centres: 78 branches and settlement groups
  • The first bank in Latvia to launch a product together with a mobile operator – Norvik SIM (offered together with Tele2)
  • The 5th biggest bank by the number of customers: 86 526 customers (7734 legal persons; 78 792 natural persons)
  • The 6th biggest bank by the number of internet bank users: 23 297 users
  • The 8th biggest bank by the asset amount: 855 m EUR (+3.7% in contrast to 30.06.2013)
  • The 8th biggest bank by the deposit amount: 742 m EUR (+7% in contrast to 30.06.2013)

Data as of 30 June 2014.
Source: Association of Commercial Banks of Latvia (

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