“BlueOrange Bank” has changed its name to “BluOr Bank”, according to “Firmas.lv” information.
The change of the bank’s name was registered in the Register of Enterprises on Monday, March 21.
“The changes are made with the aim of emphasizing the bank’s status and strengthening the bank’s position in the markets of Latvia, the Baltics and other countries by unifying the brand and the bank’s legal name. The bank’s brand is developing explained in the information published by the bank.
Due to the change of the brand and legal name of the bank, customers and partners do not need to switch between existing agreements.
Representatives of the bank also note that currently customers in Latvia, the Baltics and European countries make up 98% of BluOr Bank’s customers.
According to BluOr Bank, loans to Latvian and Baltic companies amounted to more than 130 million euros last year. At the end of 2021, the bank’s loan portfolio reached 344 million euros.
Representatives of the bank also point out that at the end of 2021, BluOr Bank was recognized as one of the five systemically important financial institutions in Latvia.
It has already been reported that BluOr Bank’s audited profit in 2021 was 9.766 million euros, which is 2.6 more than in 2020. At the end of last year, the bank’s assets amounted to 892.543 million euros, which is 22.9% more than a year earlier.
The bank was registered in 2001. Initially, its name was “Komercbanka” Baltikums “”, in June 2011 the bank changed its name to “Baltikums Bank”, but in September 2017, the bank became “BlueOrange Bank”.
The largest shareholder of the bank is the Latvian company AS “BBG”, but the real beneficiaries are Aleksandrs Peškovs, Sergejs Peškovs and Andrejs Kočetkovs.
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