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Highlights

Bank opening hours on Holidays

Dear clients! We would like to inform you about changes in the Bank's working hours from December 23, 2021:   23.12.2021. - Baltic International Bank will serve clients until 4 p.m.; 24.12.2021. - Baltic International Bank will be closed; 30.12.2021. - Baltic International Bank will serve clients until 4 p.m.; 31.12.2021. - Baltic International Bank will be closed;   Please pay due attention to the above mentioned changes and plan your financial transactions in a timely manner. Happy Holidays!

Bank’s working hours on Latvian National holidays!

Dear Clients, We will work according to the following schedule during the Latvian National holidays! 17.11.2021: Baltic International Bank will serve clients until 4 pm 18.11.2021: Baltic International Bank will serve the clients remotely on a reduced schedule until 1:00 pm 19.11.2021: Baltic International Bank will operate as usual (from 9:30 am to 5:00 pm)   Please plan your financial transactions in a timely manner.   Festive holidays!

Baltic International Bank SE joins the instant payment service

Baltic International Bank SE has started its participation in the instant payment service of the Bank of Latvia, becoming the seventh bank in Latvia to join the pan-European instant payment settlement system or SEPA Instant Credit Transfer scheme. The Bank’s instant payment solution means that customers themselves do not need to choose the transfer type: the Internet Banking payment solutions will automatically redirect the customer’s payment to the fastest transfer type possible and select the instant payment option if the beneficiary’s bank involved in the transaction is also connected to the pan-European instant payment system.  Instant payments enable customers to make payments in seconds 24 hours a day, seven days a week, all year round, including weekends and public holidays. The service has been established by the Bank of Latvia, thus providing banks with the opportunity to transfer money from an account in one bank to an account in another bank in a very short time.     “We are making targeted efforts to provide our customers with high-quality services, so joining the instant payment service was a natural step in continuing the successful development,” Dace Dūklava-Kokina, Head of Strategic and Business Development at Baltic International Bank SE, points out. “They say that time flies on the wings of the wind, and making or receiving payments instantly is already a common practice. The Bank provides its customers with individual service and approach and this also means efficiency in the execution of orders upon their receipt.”

Baltic International Bank SE’s Rating Affirmed At ‘BBB+’ With Neutral Outlook

Baltic International Bank SE’s rating affirmed at ‘BBB+’ with neutral outlook for its financial crime compliance. NEW YORK, October 25, 2021 – Following a recent re-certification review of Baltic International Bank SE’s inherent risk environment and control effectiveness around internal compliance, governance and financial crime policies, Sigma has reaffirmed Baltic International Bank SE (BIB) “BBB+’’ rating, with the institution performing at a high-level when benchmarked against international best practices. The outlook for BIB is neutral, primarily due to its geographic exposure and increasing geopolitical tensions in the Baltic region.  The BIB rating reflects our view that, despite increasing geopolitical tensions and challenges of geography, the institution has improved its control framework since its last review in 2019. Specifically, a number of the areas identified by Sigma as part of the initial rating were addressed by BIB’s management and compliance team, including further de-risking of its customer base and an increased focus on financial crime compliance from an audit and risk assessment perspective. Against the backdrop of significant changes in Latvia, including more pronounced regulator action, as well as notable work by the nation to avoid graylisting by the Financial Action Task Force (FATF), BIB continues to navigate a challenging environment. The bank is equipped to pivot to lower risk markets and has in place a robust compliance team that can both maintain current business, as well as onboard new clients in Latvia and the broader EU as its strategy shifts to make it more dependent on client acquisition in lower risk markets as identified by Sigma’s proprietary country-risk model.. While BIB’s de-risking improves its residual risk score, pressure to onboard and grow the bank’s book will add pressure and the potential for new, previously unforeseen compliance gaps may emerge. This would likely be exacerbated if the institution were to move into new, materially different product offerings or other non- EU client opportunities. While we judge the risk of a more European-focus to be low overall, it is not without risk, particularly as these markets are historically less familiar from a growth perspective for the institution.     Publication: https://www.sigmaratings.com/knowledge-center/baltic-international-bank-ses-rating-affirmed-at-bbb-with-neutral-outlook?fbclid=IwAR293016DUIqNo4hNDEjXOZJD3UlxDigAIMCHWZgNaHZ1F3AKFAhDV-z3D0

Baltic International Bank encourages clients to use financial services remotely or by prior appointment!

In light of restrictions by Government of Latvia that are in effect from 11 October 2021, we encourage you to maximize the use of remote communication and remote service provision options for your financial transactions. In-person customer service will be provided by prior appointment.   Remote customer service We already provide most of our services remotely, allowing you to manage your finances and make transactions 24/7 from any location. For the remote communication use: Remote electronic service system - Internet Banking Email communication with your private banker Remote customer service: +371 6700 0444 Informative email: info@bib.eu   Information for vault attendants  You can access your safe deposit box by prior appointment, contacting your private banker. Within this period please visit Bank’s vault only in extra urgent cases!   Thank you for your understanding!  

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