History

Our history is intertwined with the business development in Latvia and Eastern Europe, and with the revival of European banking business traditions.

Made in Latvia (1989-1995)
Useful experience (1995-1997)
Technical revolution (1997-2000)
Introduction of Private Banking (2000-2002)
Business without borders (2002-2004)
New financial solutions (2005)
Today and tomorrow


Made in Latvia (1989-1995)

The end of the eighties and the beginning of the nineties introduced a new stage in the economic development of Latvia. Our society experienced political and economic transformations which gave birth to a new business environment. Young businessmen became familiar with previously unknown rules of business management. There was a task for the bank – to generate the right conditions for businessmen to work effectively.

In this atmosphere in 1989 Trasta komercbanka was born with the name of “Riga-Bank”. In 1991 the Bank became a joint-stock company, and on September 27th, 1991, it was registered in the Latvia Enterprise Register. On December 12th of the same year the bank received Bank License #8 for all kinds of bank operations. In 1992, when Latvia established independent banking sector, and the Association of Commercial Banks, TKB was among the first to enter this association.

In the nineties we found solutions to the tasks that had never been solved before by anyone: we developed new commercial services and established the first correspondent gateways to foreign banks. At that time the most importanat challenge for us was to help our clients to establish their businesses. At the beginning of nineties TKB provided accounting-accumulating services, created lending programmes, performed the first trust operations in Latvia, and rendered financial trading services. In 1995 the bank received its new name – Trasta komercbanka. By that time we offered a chain of new and secure facilities for business development.

Useful experience (1995-1997)

In the second half of the nineties the situation in the business world continued to change rapidly. With the formation of securities market grew the interest in investments and new ways of gaining profit..

At that time TKB created a new strategic plan aiming at specialization in corporate client service for operations with securities. In 1997 the bank became a member of Riga Securities Exchange and Central Depository. There was an active formation of investment packages in the Baltics region, Russia and other countries and within a year only the bank took a leading position in this market

TKB was the first bank in Latvia to offer growing companies share administration services. Public Emission Organization became our leading point. Among the most significant projects was the emission of shares in the joint-stock company “BALTA” to the general public and the initial distribution of the first public emission.
 
Technical revolution (1997-2000)

In the nineties our client business became more and more international. It required searching for new solutions of effective finacial management.
 
Trasta komercbanka was the first bank in Latvia to offer clients a remote administration service of their accounts applying the newest technologies. Introduction of the first Internet-Bank system Trast.Net in 1997 was a revolution. It was the first such system not only in Latvia and the Baltics, but also  in CIS countries! Besides we also offered our clients the first telephone administration system in Latvia, Telephone-Bank, and the automated modem payment system TeleTrast.  
 
Introduciton of Private Banking (2000-2002)

At the end of nineties the Russian financial crisis caused serious crashes in the banking system of Latvia. Many banks ended their existence. Only a few banks managed to enter the 21st century after this arduous period.

TKB survived, and kept on finding new ways to develop  and improve its service. In 2000 the strategy of the Bank was realigned, and investments were allocated to strengthen its positions in the bank market. Private communication with the client and a special focus on his every request was really valuable in the exclusive service development. At the end of the last century TKB started to introduce a Private Banking service. This service allowed our clients to cooperate with the bank effectively, solving their problems with the help of a single responsible person at the bank – a Private Banker.

Business without borders (2002-2004)

The development of international business aroused interest of entrepreneurs in the possibilities offered by the bank in new regions. Latvia’s entry into the EU opened new doors for local businessmen and our foreign clients.

Since 2002 the bank has had foreign representative offices in Ukraine, Byelorussia and Russia. There our clients receive professional support from the bank, including, partner searches in the new region and making profitable deals for the client. In 2004 when the bank celebrated its 15th anniversary it expanded the network of representative offices, opening an office in Kazakhstan, and later in Canada. The  same year TKB entered the international factoring association "Factors Chain International",  becoming the first representative of Latvia in the world’s biggest factoring organization. Working in this association has allowed us to ensure export and import security in international trade operations.

Today owing to its work experience in CIS countries and the European market TKB offers its clients all the advantages of cooperation with Eastern and Western markets.

New financial solutions (2005)

Due to development of the real estate market in Latvia and interest of foreign investors in this market TKB established new companies to meet the needs of its clients.

In 2005 TKB expanded its activity in the real estate market by setting up a realty company "TKB Nekustamie īpašumi". It deals with property development and investment in real estate, which is a new and prospective form of investment in Latvia. This company is preparing to issue mortgage bonds of Trasta komercbanka. At the same time another sister company started its work. A company "TKB Leasing" was established to expand the potentials of our clients by supporting them in purchasing vehicles or equipment. 


Today and tomorrow

Today it is essential for any businessman to have a partner that can delve into problems and find non-standard solutions, reply to requests rapidly and create  optimal conditions for business development.

The establishment of Latvian American Financial Forum (LAFF) was a very important event of 2006. One of its initial partners was Trasta komercbanka. Today the forum is working to achieve an important aim – to strengthen Latvia’s position as the financial centre in the Baltics. We understand that exploration of foreign markets and development of overseas business is important for our clients. That is why participation of our bank in the forum is a new step in reinforcing competitiveness on the international markets and expanding our client’s potentials abroad. Today TKB is a kind of a financial club for people aiming at success and non-stop development. Here they find new business-contacts, get financial support for their projects, receive guarantees in international operations and other exclusive solutions – for these are the main components of our success!

It is known that history is made by people. Thus the history of TKB is, first of all, the history of our clients and their success. Today we continue this history together with you!