Rietumu Banka

Christmas is a time , when we reflect on what we have experienced and look to the future with hope. May these holidays bring peace to your home, joy to your heart, and inspiration for new achievements! Wishing you a merry Christmas and a happy New Year, Rietumu Banka.

At the end of the year 2024, the magazine Pastaiga has released a new issue featuring an interview between Jelena Buraja, Chairman of the Board / CEO at Rietumu Banka, and the renowned artist Helēna Heinrihsone.   In the interview, she shares her perspective on life, her passion for painting, and reflections on her recent exhibition “Wanderers”, which garnered significant attention in November.   This is a story about life, art, and the constant wandering of a human being—both physical and emotional.  Helēna's inspiring words encourage us to reflect on our everyday "wanderings" and find beauty within them.   We invite you to read this special interview in the December issue of Pastaiga!  

"Sustainability requirements are becoming an inevitable part of the new economy. Are you ready for this future?" - Edgars Sedovs, Head of Enterprise Risk Management and Credit Risk Management at Rietumu Banka, addresses readers in his article published by several media outlets this week. The European Union's ESG regulations and climate change are already transforming the business world. These changes bring both challenges and unique opportunities for companies that are ready to adapt and act proactively. A sustainability strategy is no longer just an option—it has become an essential part of business operations, helping to mitigate risks and enhance competitiveness. As Edgars Sedovs emphasizes: "The sooner companies begin implementing sustainable solutions, the better our shared future will be." For several years, Rietumu Banka has been actively supporting clients in ESG integration and offering solutions that promote sustainable business practices. The full article is available on the "Jauns" portal: https://lnkd.in/d6rhCXvq

Latvian media have published the insights from Jeļena Buraja, Chairman of the Board / CEO at Rietumu Banka, regarding key trends in the economy and financial sector. She highlights that a reduction in base interest rates next year will lead to increased demand for loans and the revival of previously halted projects. Lending growth will also be positively influenced by government initiatives aimed at combating the shadow economy. Jeļena Buraja predicts development in residential real estate projects, including the construction of new apartment buildings and the renovation of older properties. The development of renewable energy projects will continue. “We are confident that Latvia has significant potential and excellent opportunities in this area to become one of Europe’s leaders in climate change mitigation economies and a major electricity exporter to the rest of Europe,” says the bank's CEO. Rietumu Banka plans to continue financing projects in this sector, as well as large-scale innovative projects in agriculture, manufacturing, and other industries. However, a significant challenge for both banks and other businesses next year will be the further implementation of European sustainability reporting standards. This new reality will also impact lending and the securities market, where demand for “green bonds” is expected to grow. Jeļena Buraja emphasizes that, barring unforeseen geopolitical factors, Latvia’s banking sector is expected to maintain high profitability next year. The full article can be read on the Dienas Bizness portal: https://lnkd.in/dBQQzA3n

💼 What's new in finance this week? Find out now! 🔵 European Central Bank delivers final rate cut of the year https://lnkd.in/d_r7w9EH The ECB started cutting the main interest rates in June 2024, to boost the Eurozone's lagging economy, through lower rates to encourage borrowing, spending and investment. 🔵 Coffee prices climb to near 50-year highs — and it may take years for the rally to run out of steam https://lnkd.in/dEDM27b9 A record-breaking rally for coffee prices shows no sign of slowing down, analysts say, with some warning it could take years for one of the world’s most traded commodities to recover. Drought and high temperatures, alongside a global reliance on supplies from relatively few regions, are regarded as the key drivers for the dramatic price rise. “History suggests that coffee prices will only ease back as and when supply improves and stocks are replenished,” David Oxley, chief climate and commodities economist at Capital Economics, said in a research note. 🔵 Annual inflation rate in USA accelerates to 2.7% in November, as expected https://lnkd.in/gNjMNw-B The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month. Excluding food and energy costs, the core CPI was at 3.3% on an annual basis and 0.3% monthly. All of the figures were in line with forecasts. The report further solidified the market outlook for a cut, with traders raising the odds to 99%, according to the CME Group’s FedWatch measure. 🔵 China consumer inflation rate drops to a five-month low, missing expectations as economy slows https://lnkd.in/dpT7Hy-k China’s consumer prices rose less-than-expected in November, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday. Analysts polled by Reuters had expected a slight pickup in the consumer price index to 0.5% in November from a year ago, versus 0.3% in October. China’s producer price index declined for the 26th month. Producer inflation fell by 2.5% year on year in November, less than the estimated 2.8% decline as per the Reuters poll.

Rietumu Banka is proud to be ranked among Latvia’s top five largest commercial banks by asset volume at the end of 2023, according to the Dienas bizness TOP500 special edition. Rietumu Banka also firmly maintains its position as the largest bank in Latvia with local capital.   This is yet another testament to our stability, growth, and commitment to meeting the needs of our clients. It also demonstrates our dedication to providing high-quality services and effective solutions.   Thank you to our clients, partners, and team for your trust and shared success! #RietumuBanka

💼 What's new in finance this week? Find out now! 🔵 Private payrolls grew by 146,000 in November, less than expected, ADP says https://lnkd.in/gJz4TjDM Private payrolls growth was less than expected in November, reflecting a slowing labor market, according to a report Wednesday from ADP. Companies added 146,000 jobs on the month, below the downwardly revised 184,000 in October and less than the Dow Jones estimate for 163,000.   🔵 European markets stay steady despite French government's collapse https://lnkd.in/dMmeEUET     The French stock markets showed no immediate reaction to the political turmoil in the country.   🔵 Investment banks eye 2025 income boom as Trump drives deal rebound Source https://lnkd.in/d-2Qi_Vx  President-elect Donald Trump's return to the White House is seen fuelling a dealmaking revival that could bolster investment banking income to $316 billion globally next year, a jump of about 5.7% on 2024, data seen by Reuters shows.   🔵 Bitcoin tops $100,000 as monster 2024 rally reaches new heights https://lnkd.in/grA2nVAy   The price of bitcoin soared past the long-awaited $100,000 benchmark for the first time ever Wednesday night. The move came after the S&P 500 and Nasdaq Composite registered new closing records, in the same day President-elect Trump announced his pick for SEC chair and Fed chair Jerome Powell likened bitcoin to gold. Bitcoin is now up more than 140% in 2024 and 48% since the election.

Gold continues to shine as a safe haven in volatile times, coffee prices soar to record highs due to weather and logistical challenges, and uranium powers the future with a nuclear energy revival.   To read more click the article below! #RietumuBanka #commodity

💼 What's new in finance this week? Find out now! 🔵 US third-quarter economic growth unrevised at 2.8% https://lnkd.in/d7kXZckc The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending. Gross domestic product increased at an unrevised 2.8% annualized rate, the Commerce Department's Bureau of Economic Analysis said in its second estimate of third-quarter GDP. 🔵 Germany’s inflation misses forecasts in November: Bund yields fall https://lnkd.in/dsKJ2k5h Germany's headline inflation rose to 2.2% in November, below forecasts, with a sharp 0.2% monthly drop signalling disinflation. Core inflation hit 3.0%, the highest since May. Bund yields fell to 2.14%, DAX rose 0.5%, and the euro slightly weakened. 🔵 France’s political chaos drives borrowing costs to the same level as Greece’s for the first time https://lnkd.in/d9RVxafa France’s brewing political crisis is spilling into financial markets with French borrowing costs hitting the same level as debt-ridden Greece’s for the first time on record Thursday. The spread — the difference in yield between two bonds — between French 10-year government bond yields and their Greek counterparts was reduced to zero earlier Thursday. The yield on the French 10-year stood at 3.0010% while the same Greek bond stood at 3.030%. 🔵 China's Nov manufacturing activity seen expanding for second month: Reuters poll https://lnkd.in/d_9EBPTq China's factory activity likely expanded modestly for a second straight month in November, adding to a string of recent data suggesting that a blitz of stimulus is finally trickling through and giving producers in the world's No.2 economy a much needed boost.

Rietumu Banka is proud to support the brilliance of Ludolfs Liberts work in the exhibition "The Hypnotic Brilliance of Art Deco". This exhibition will be on display until the 16th of March 2025 at the Latvian National Museum of Art. Liberts is one of the most prominent representatives of the Art Deco style in Latvia, and this exhibition offers a unique insight into his creativity, particularly in scenography and costume design. Rietumu Banka has contributed several art works by Ludolf Liberts from its art collection to this exhibition, offering visitors a deeper insight into his talent and remarkable contribution to Latvian culture. Visit the exhibition and experience the hypnotic Art Deco world of Liberts! When? 30.11.2024.-16.03.2025. Where? Latvian National Museum of Art We are proud to support initiatives that highlight and preserve Latvia's cultural heritage.