On granting a credit institution operating licence to the joint stock company Rigensis Bank

16.06.2011
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Riga, 13.06.2011

Press Release

On 13 June 2011, the Board of the Financial and Capital Market Commission (the Commission) made a decision on granting a credit institution operating licence to the joint stock company Rigensis Bank. Considering an application for the licence submitted by Mr Igor Cyplakov the Commission established that the amount of Bank’s initial share capital, board members as well as the founder of the Bank, Igor Cyplakov, meet the requirements of the Credit Institution Law and there is no ground for suspicion regarding legal origin of funds invested in the Bank’s share capital. The Board of the Commission decided to favour the appointment of Mr Rolands Pētersons as Board Chairman of Rigensis Bank, as well as appointment of Board members, Mr Vladislavs Petrovs and Ms Valda Knauere. The Commission has received confirmation that payment of required minimum initial capital to establish a bank has been made by Rigensis Bank to the Bank of Latvia. In accordance with provisions of the Credit Institution Law, a newly-established credit institution may launch its operation after its registration with the Commercial Register and receipt of a licence granted by the Commission.

Anna Dravniece
Head of Office
Financial and Capital Market Commission

For additional information:
Agnese Joela
Public Relations Specialist
Financial and Capital Market Commission’s Office
Phone: +371 67774808; email: agnese.joela@fktk.lv

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