This year, 21 bank branches have opened in 12 regional cities - both in-person and alternative, where financial services can be obtained upon request, public media report.
This happened after amendments were made to the law on credit institutions and the regulations of the Bank of Latvia.
The Deputy Head of the Bank of Latvia, Santa Purgaile, referred to data from several surveys indicating the need to expand opportunities for clients to access financial services:
"Representatives of various categories of the population and businesses, especially small and medium-sized enterprises, note that the availability of financial services could be better, and one in three of them has encountered some problems when obtaining these services."
Therefore, the law on credit institutions was amended, and this year three banks - "SEB banka", "Swedbank", and "Citadele" - opened new service points. Eight permanent service points are located in Bauska, Kuldiga, Madona, and Talsi, and 13 alternative ones in Saldus, Limbaži, Līvāni, Valki, Preiļi, Krāslava, Balvi, and Alūksne. Alternative financial service points will operate only upon client request.
A representative of "Swedbank", Jānis Krops, said that it is best for clients to call the bank before seeking such a service: "And one more thing. We ask to clarify whether the issue that concerns the client and what they would like to do requires an in-person meeting. Because in about 50-60% of cases, people come to resolve issues that they could have solved over the phone or by themselves."
Krops also added that in some places myths are being dispelled: "One of the previously discussed myths was that local entrepreneurs would come in large numbers for these in-person consultations and inquire about business financing opportunities. So far, this has not been confirmed. No entrepreneur has shown such interest yet."
Mainly elderly people come for consultations. In Balvi, two bank branches are open only one day a week, which is too little, said Deputy Mayor Inta Kalva. "There are many people, which means there is demand. And now, if we consider everything from the perspective of the eastern border region, we are talking not only about bank branches but also about ATMs, which we do not have in rural areas. All of this needs to be considered comprehensively.
