Rangers v Celtic

*Nazis

 

6/18/2018 1:18 PM
'Rietumu banka' plans to terminate cooperation with more than 90% of high-risk customers
DELFI Business

Photo: LETA
By the end of the summer, Rietumu Bank plans to end cooperation with more than 90% of companies that are classified as high-risk customers. The work done by the bank in this direction has been praised by both Latvian state financial institutions and international partners, Rietumu Bank points out.

Rietumu Bank made the decision to abandon servicing 4,000 high-risk companies in March this year. As a result, cooperation with 80% of high-risk customers has been terminated, relations with 98% of unacceptable risk customers have been terminated, and a clear emphasis has been placed on new business in the Baltics and the EU.

All these former clients had to go through strict "compliance" procedures and confirm the legality of the origin of the funds. Today, 80% of these former customers have completed the process and in most cases have left the bank. Most of the remaining relevant customers are expected to complete compliance procedures in July.

"Reassessing the risk profile of customers in such a short time is a big task that requires considerable effort from both the bank and its customers. It objectively changes the usual procedures in cooperation with customers," said Rolf Fuls, Chairman of the Board of Rietumu Bank. "Now more than ever, it is necessary to focus on new business directions. Operational decisions have allowed Rietumu Bank to focus on transforming its business model, opening accounts and serving new customers. "

The Bank's success has also been noted by Marshall Billingsley, a senior representative of the US Treasury Department, who visited Latvia in early June. Billingsley praised Rietumu Bank's serious approach and progress in addressing current business transformation issues. His assessment has also been supported by the Minister of Finance of Latvia Dana Reizniece-Ozola, noting that "this is one of the positive examples that confirms that if you want to change, you can".

As previously reported, Rietumu Bank closed the first quarter of 2018 with a net profit of EUR 15.7 million, which is slightly higher than in the same period last year. According to the profit indicator, "Rietumu banka" ranked second among 18 Latvian commercial banks.

The bank provides all the necessary information and other support to customers who are still undergoing compliance procedures. Given that these companies have started operations in previous years, when the legal requirements differed significantly, some of them need more time to prepare all the necessary documents. Therefore, the bank's approach to the issue of terms is flexible, taking into account the specifics and history of each particular customer.

Desmond cleaning house by Latvian and US accounts

 

Groundhog Day. Fkn state a you man

 

yer clubs getting pumped for 40 mil

 

Your club died and ye just sat and watched.

 

Show your workings

 

he will need to get the crayons out.

 

Sos yours if yous don't win the league

 

Der Bheast really weren't expecting this mahoosive class action getting the go-ahead.

Momma T, *****id, Edvardo and Keyrung have been apoplectic since.

 

Why?

 

Small change for Desmond but I'm led to believe it's a separate entity so he's not liable for anything,hth.

I like Mon.

 

Only applies to young boys though

 

.

 

I hear we took it from the poppy appeal

 

Nicked fae the church

 

U wot m8?

 

I remember that

4 bottles of hand-wash donated to a care home

 

Seriously? Wtf?