Parex banka allowed to extend credit limits to loyal corporate customers by LVL 10 million

Parex banka has received an approval from the International Monetary Fund and
the Financial and Capital Markets Commission to increase credit limits to its
most loyal corporate customers, thus facilitating their development potential
in the economically challenging environment. The provision is effective as of
22 March 2010, and the bank will divert up to LVL 10 million for this purpose. 

The increased credit limit will be available to those corporations, which have
been Parex banka's customers for at least five years.  The increase will be
equal to up to 20% of the customer's existing liabilities, provided that the
customer's funding requirements are reasoned, with sufficient cash flow and
collateral. 

Head of Corporate Services Sector Agnese Paegle:  “This decision will allow us
to strengthen relations with the strategically most important customers of
bank's corporate sector by issuing loans which the enterprises need to pursue
further development.  As we all know, the current lack of lending resources is
one of the most fundamental obstacles hindering the economic recovery of
Latvia.  This will also substantially facilitate Parex banka's competitiveness
in the corporate services segment.” 

Prior to increasing the credit limit, the bank will appraise the collaboration
history with each particular customer, including the assessment of average
monthly account balance, absence of delayed payments or breach of loan
agreements, gross income of the bank from the customer or group of customers,
as well as the duration of cooperation. 

About Parex banka:

Founded in 1992, Parex banka currently employs some 1 900 people at branches
all over Latvia and offers universal banking services throughout the Baltic
region, the CIS and other European nations such as Germany, Switzerland and
Sweden. Parex Group companies operate across the banking, finance, leasing,
asset management and life insurance sectors. Parex banka has signed up to the
European Code of Conduct on housing loans. 

For more information please contact:
Inga Saleniece
Corporate Communications Department
Telephone: +371 67778870 or +371 26564629
E-mail: pr@parex.lv