Today, 22 January, the joint stock company AS Meridian Trade Bank has changed its name to Industra Bank (Industra). 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.

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,”

— says Jurijs Adamovičs, chairman of the council of the joint stock company Industra Bank.

“Along with changing and streamlining our business model, work on strengthening the Bank's first-tier capital is also currently in its final stage,"

— says Jurijs Adamovičs.

The changes in the bank’s name were registered in the Register of Enterprises of the Republic of Latvia on 22 January 2020.

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The joint stock company Industra Bank, previously named the joint stock company Meridian Trade Bank, is a Latvian credit institution that was established in 1994 and that is currently having 13 customer centres in Latvia and three customer centres in Lithuania. The Bank has more than 30 thousand customers and, according to this indicator, Industra is the sixth largest bank in Latvia. As at the end of the third quarter of 2019, the consolidated assets of the Bank’s Group were 173 million euros, while the earnings for the three quarters of 2019 amounted to 423 thousand euros.

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