History and mission

AS "SMP Bank" is an universal financial institution providing a wide range of banking services to private persons and corporate Customers. 

  

AS „SMP Bank" was established as AS "Multibanka" and registered in April 1994. AS "Multibanka" predecessor - Latvian branch of the Bank for Foreign Economical Affairs of the USSR - was founded in 1988, however it was nationalized in 1991 and became the Foreign Operations Department of the Bank of Latvia. AS "Multibanka" merged with Joint Stock Company "LNT Skonto Banka" in 1995.

The Bank became the member of S.W.I.F.T in 1995, allowing using Reuter's information system, thus ensuring technical support of FOREX and Money Market operations.

The Bank acceded to EUROPAY INTERNATIONAL in November 1996, later (in 2002) renamed as "MasterCard International". Owing to this cooperation AS "Multibanka" is able to offer to customers a wide range of the payment card products.

The Bank is a member of the Association of Commercial Banks of Latvia, Riga Stock Exchange and Central Depository.

The Bank's headquarters is located in Riga, howerer branch office and accounting groups are operating in the capital of Latvia and in the largest cities like Daugavpils, Liepaja, Ventspils, Saulkrasti, Olaine, Jelgava, Sigulda, Jurmala, Lubana. Since 2011 another branch office and one accounting group of the Bank is launched in Vilnius (Lithuania), and accounting groups in Kaunas and Klaipeda (Lithuania).  The Bank has representative offices in foreign cities like Kiev (Ukraine) and Moscow (Russia).

The official auditor of the Bank is KPMG.

Equity capital of the Bank initially was 300 000,- LVL. Due to several share emissions the equity capital has been increased up to LVL 9 006 000.

Performancet ot the Bank is characterized by gradual, without acute fluctuations, growth of all the qualitative and quantitative performance ratios. Bank takes a stable positions in  Latvian financial services market. Bank complies with all legislative requirements and norms related to business activities as well as to preventing money laundering and financing terrorism.

The Bank is expanding it's business activities in line with the business strategy that is targeted at increasing domestic customer base. Bank focuses mainly on small and medium size corporate customers, operating in such areas as construction, forwarding and transhipment services, and trade, as well as tourism.

On June 17, 2008, Bank has been officially registered under the name of AS "SMP Bank". These changes result from the acquisition of the Bank by СМП Банк (Commercial bank "Severniy Morskoy Put"), headquartered in Moscow, Russian Federation, which came into effect on  May 6, 2008.

The main customers groups of the Bank are:

• small and medium size Latvian companies, including those, involved in international trade (intermediary services), export-import cargo transportation
• physical persons (residents and non-residents)
• small and medium size companies from OECD and Baltic region having their business counterparts or investments in Latvia or CIS countries, as well as physical persons related to the above companies
• small and medium size Eastern-European and the CIS countries companies, providing trade and transit services in the Baltic Region as well as physical persons related to the above companies

The Bank offers a wide range of services typical of an universal bank in the Baltic region.

MISSION

The mission of AS „SMP Bank" is to offer a wide range of high quality financial services to customers, based on advanced technological platforms, combined with individual approach to each client's needs.

Business of the Bank is targeted at long-term, mutually beneficial cooperation and stable development, facilitating growth of business connections and international cooperation in the region.

Professional level of banking operations and Bank's experience is aimed at ensuring an increased level of customers' welfare and business development.