For the planned expressway in Metro Manila, Philippines, see Pasig River Expressway.
Parex Bank
Company type
Private company
Industry
Financial services
Founded
1992; 32 years ago (1992) in Riga, Latvia
Key people
Valērijs Kargins, Viktors Krasovickis [lt; lv]
Products
Banking
Parex Bank was a Latvian bank founded in 1992 by Valērijs Kargins and Viktors Krasovickis [lt; lv] as a privately owned full-service banking company in Riga, Latvia that was very dominant in currency exchange in the 1990s. It had local and international clients in both the West and Russia with close ties to the Tambovskaya Russian mafia in St Petersburg and Vladimir Putin.
As the second largest bank in Latvia in 2008, its failure and state takeover was one of the major events of the 2008–2010 Latvian financial crisis.[1] On 1 August 2010, Parex Banka was split into a new bank Citadele Banka and Reverta, an asset recovery company.[1] Citadele was then sold to a group of United States investors while Reverta sued the founders Kargins and Krasovickis for €88 million due to 14 highly irregular loans and deposits between 1995 and 2008.[1]
^ abc"Former Parex owners ordered to pay back millions". Public Broadcasting of Latvia. 14 October 2016. Retrieved 17 May 2019.
ParexBank was a Latvian bank founded in 1992 by Valērijs Kargins and Viktors Krasovickis [lt; lv] as a privately owned full-service banking company in...
from a state administered split of ParexBank into viable and distressed banking assets. The other is Reverta. Parex was privately founded 1992 and taken...
staff in 14 countries. Parex Banka was founded in 1992 by Valery Kargin and Viktor Krasovickis as one of the early privately held banks of the post-Soviet...
fraudulantly received $800 million and some of it had been through ABLV Bank and ParexBank for companies linked to her by three telecommunications operators...
Latvian and German firms associated with ParexBank and Overseas Services, which is a sister firm of ParexBank, by Mikhail Rebo, also spelled Rabo, and...
effectively creating a bad bank with the original Parex Banka name and no retail depositors. The Parex "bad bank," its core retail functions stripped out by...
the softening world economy. Triggered by the collapse of ParexBank, the second largest bank, GDP decreased by almost 18% in 2009, and the European Union...
later founded ParexBank in January 1992. Riga was intended to become the global financial center in the former Soviet Union and Parex promoted itself...
foreign lenders (predominantly Scandinavian banks). Domestic banks (notably ParexBank, a national bank in Latvia) were largely reliant on rolling their...
million (~$996 million in 2023) and some of it had been through ABLV Bank and ParexBank for companies linked to her by three telecommunications operators...
Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount,...
shortage of credit and huge money resources used for the bailout of ParexBank. The Latvian economy fell 18% in the first three months of 2009, the biggest...
in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance...
Snoras bank was nationalized. In 2008 ParexBank was nationalized. 1974 Bank of Valletta is founded following nationalisation of the National Bank of Malta...
Pasig River Expressway (PAREX) was a proposed elevated expressway in Metro Manila, Philippines that would have skirted the banks of the Pasig River and...
UK, HSBC UK, ING Belgium, JCB, LHV Pank Estonia, National Bank of Greece, OpBank, ParexBank (Latvia), Sampo (Finland), Société Générale, Agip France,...
for her firm Blue Star Strategies. Painter had worked at the notorious ParexBank, which was allegedly very closely associated with very large money laundering...
headquarters in Riga. Economy of Latvia List of airlines of Latvia List of banks in Latvia List of supermarket chains in Latvia "Composition of macro geographical...
while at the same time the government nationalized ParexBank, the country's second largest bank. On concerns of bankruptcy, Standard & Poors subsequently...
former headquarters of the collapsed Parexbank, now headquarters of state-owned Citatele bank, which emerged from Parex's ruins. Criterion fulfilled Criterion...
registered in Moscow at various banks including Deutsche Bank in Frankfurt, and most of the money went to banks in Riga at ParexBank ($10 million from Telford...
their Chairman of the Board of Directors before the bank was acquired by the Latvian ParexBank in 2004. Gotthelf also occasionally works as a feature...
Baseball Field". Sacramento Business Journal. Retrieved September 16, 2011. "Parex Steps Up To The Plate At Sacramento's New Raley Field". Design Cost Data...
"Invest-Riga", an auditing firm, liquidated the bank and completed on 22 March 2018. ParexBank ABLV Bank Economy of Latvia Brauna, Anita; Galzons, Edgars...
Christmas (banker) (born 1969), United States banker and head of the Latvian ParexBank's International Relations in the early 2000s John Christmas Beckwith (1759–1809)...
Charter FOX FLIGHT United States PAV VIP Avia NICOL Kazakhstan PRX VIP Avia PAREX Latvia VAT Visionair VISIONAIR Ireland VA Viasa Venezuela IATA Code transferred...
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