Meridian Trade Bank changes its name to Industra Bank

  • 2020-01-22
  • LETA/TBT Staff

RIGA - Meridian Trade Bank has changed its name to Industra Bank (Industra), LETA learned from the bank. 

The bank representatives reported that the new name reflects a change in the bank’s business strategy, following which the bank will be further on focusing on the cooperation with small and middle-sized companies in Latvia and other Baltic states and on the provision of services necessary for a successful business development to these companies.

The brand Industra is planned to be phased in gradually over the year and customers of the bank are not required to perform any additional actions. 

Jurijs Adamovics, chairman of the council of the joint stock company Industra Bank, said that, along with changing and streamlining the bank's business model, work on strengthening the bank's first-tier capital is also currently in its final stage.

“Industra is a bank for businessmen operating in the real economy – for manufacturers, service providers, people who put their business ideas into practice. The name of Industra embodies this ambitious goal – to provide a true business partnership to support entrepreneur activities which, through their energy and determination, create new values, irrespective of types of business – ranging from farmers to innovators bringing in new technologies. We are ready to start putting Industra's vision and values ??into practice,” he said.

The changes in the bank’s name were registered in the Register of Enterprises on January 22.

Industra bank was established in 1994. Initially its name was Multibanka, then it was renamed to SMP Bank, and later to Meridian Trade Bank.

The bank was the 13th largest bank in Latvia by assets at the end of September 2019.