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Parex bank sees rising Estonian investment |
03.02.2010 |
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Latvia-based Parex bank collected over 650 million kroons in deposits from Estonian investors last year.
Parex manager Sofia Krist said that the bank had achieved a good strategy for targeting the Estonian market by offering deposit and investment products with favourable interest rates, the Baltic Course reported.
The bank saw its client base in Estonia rise by 35 per cent last year and now holds deposits from 5,300 Estonian clients.
Parex said that the November-December period was particularly successful as the bank collected more than 390 million kroons from Estonian investors in those months alone.
The Baltic Course noted that the bank has had Estonian branches in Tallinn since 2004, in Narva since 2007 and in Tartu since 2008.
Parex was founded in 1992 as one of the first commercial banks in Latvia and has now become one of the largest independent financial institutions in the Baltic region.
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