Credit institution licence (bank) (Latvia)
The Credit institution licence (bank) is issued by Latvijas Banka (LB) under Law on Latvijas Banka. It can be passported to the other EU/EEA states by notification. The official register lists 10 current holders. The legal decision period is 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB. The application fee is EUR 0 (free of charge). Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Credit institution licence (bank)1 |
|---|---|
| Issued by | Latvijas Banka |
| Jurisdiction | Latvia |
| Licence family | Bank / credit institution |
| Legal basis | Law on Latvijas Banka2 Credit Institution Law3 Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)4 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 0 (free of charge)1 |
| Statutory decision time | 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB1 |
| Public register | official register5 |
| Current holders | 105 |
What it lets you do
- Taking deposits from the public. Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions.
- Lending. Granting loans, including consumer credit, mortgage credit, factoring and financing of commercial transactions.
- Execution of payment transactions. Executing direct debits, card payments and credit transfers, including standing orders, from a payment account.
Where it is valid
How long it takes
Statutory: 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB1. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior approval required. Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.6
Laws behind it
- Capital Requirements Directive: Directive 2013/36/EU
- Capital Requirements Regulation: Regulation (EU) No 575/2013
Sources
- bank.lv: how to obtain authorisation · retrieved 2026-09-24
- likumi.lv: 326575 · retrieved 2026-09-24
- likumi.lv: 37426 · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32013L0036) · retrieved 2026-09-24
- bank.lv: market participants · retrieved 2026-09-24
- bank.lv: procedure for the evaluation of qualifying holding · retrieved 2026-09-24
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