New associate members joined Finance Latvia (the Association) in January: SIA “Visa Europe Latvia,” Citadele Leasing, Citadele Factoring, Luminor Leasing, Luminor Leasing Latvia, Swedbank Leasing and SEB Leasing.

“Our aim at Finance Latvia is to improve the business and financial service environment in Latvia through targeted partnership with the state and non-governmental sectors and other industry partners, as well as to advance the international reputation and competitiveness of the Latvian financial sector. We appreciate that we have been able to welcome new associate members to the Association, and that their aims, interests and values align with Finance Latvia’s vision and basic principles. A new direction for us will be resolving issues relevant to the leasing sector using our previous experience and skills,”

emphasises Sanita Bajāre, Finance Latvia Chairperson of the Board.  

Visa Europe Latvia will operate on the Association’s Payments and Digital Channels Committee. Meanwhile, with the inclusion of the aforementioned bank leasing and factoring companies, Finance Latvia has founded a Leasing Committee, chaired by former Latvian Leasing Association CEO Pēteris Plaudis. Committee representatives will review current issues relevant to leasing and represent the interests of leasing providers.

”We at Visa are excited to be joining Finance Latvia Association. We see Latvia and the Baltics market particularly interesting to Visa and through this engagement we also want to demonstrate our commitment to the Latvian and Baltics payments market where Visa continues to help consumers, businesses and financial institutions in their journey to become more digital, secure and innovative.”

Comments Riikka Salminen, Country Manager for Visa Sweden, Finland and the Baltics.

“Now that bank leasing and factoring companies have joined Finance Latvia, the Association can develop the skills in leasing and factoring products built by our members over more than 20 years through their work in the Latvian Leasing Association. The new associate members are certain that this new format will significantly improve their collaboration with the state sector, as well as accelerate the progress of several projects involving leasing operators and associations operating in the private sector. As of 31.12.2020, the total leasing portfolio of our associate members is €1.46 billion,”

adds Pēteris Plaudis, Chairperson of the Association’s Leasing Committee.

Associate members and members are required to confirm their willingness to join the Association’s documents of self-regulation (the Latvian Banking Sector Good Practice Guidelines and the Policy and Guidelines for the Prevention of Money Laundering and Terrorism Financing and Adherence to Sanctions) in accordance with the sphere of operations of the legal entity. Committees and working groups, staffed by experts from the Association’s members, work to achieve the Association’s goals in the areas prioritised by the Association. The committees are tasked with promoting the strategic development of their field and implementing specific measures. You can find out more about becoming an associate member or member of Finance Latvia on our website or by contacting a member of the Association’s Management Board.

Finance Latvia is a public organisation representing the Latvian financial sector at a national and international level. Currently, Finance Latvia encompasses 35 businesses in the financial sector, and operates in accordance with the statutes confirmed by the General Members’ Meeting. The Association was founded on July 23rd, 1992, and is one of the oldest business organisations in Latvia.


Sabīne Spurķe
+371 20604166
Head of Communications
Finance Latvia

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