DUSHANBE, October 14, 2009, Asia-Plus — Latvia’s bank, open joint-stock company (OJSC) Trasta komercbanka (TKB), has opened its representative office in Tajikistan. It is the first representative office of European banks in the country.
According to the National Bank of Tajikistan (NBT), TKB received permit for opening it representative office in Tajikistan on August 13 this year.
Speaking in an interview with Asia-Plus, the head of TKB’s office in Tajikistan Mustafo Davlatbekov said that an official opening of the office was held in Dushanbe on October 8.
“TKB’s office in Dushanbe gives Latvian entrepreneurs a good opportunity to get into developing market of Tajikistan. Sectors like information technologies, food industry, construction, wood and metal working, mechanical engineering and others are now especially topical at Tajikistan’s market and provide real potentials for development of Latvian exports in this region,” said Davlatbekov, “For its part, Latvia may get new investments in its economy becoming a strategic springboard for Tajikistan to other countries of the European Union.”
TKB was founded in 1991 with the name of Riga-Bank. In 1991, the bank became a joint-stock company, and on September 27, 1991, it was put on the Latvia Enterprise Register. On December 12 of the same year, the bank received Bank License #8 for all kinds of bank operations. In 1992, when Latvia established independent banking sector, and the Association of Commercial Banks, TKB was among the first to enter this association. In 1995, the bank was renamed Trasta komercbanka.
Today owing to its work experience in CIS countries and the European market TKB offers its clients all the advantages of cooperation with Eastern and Western markets.
Due to development of the real estate market in Latvia and interest of foreign investors in this market TKB established new companies to meet the needs of its clients. In 2005 TKB expanded its activity in the real estate market by setting up a realty company, TKB Nekustamie ipasumi. It deals with property development and investment in real estate, which is a new and prospective form of investment in Latvia. This company is preparing to issue mortgage bonds of Trasta komercbanka.
