Institution
Parex Bank
Parex Bank was a Latvian commercial bank founded in Riga in 1992 that grew into the country's second-largest bank, with many deposits from non-resident customers. During the financial crisis of 2008 it suffered a run and was taken over by the state in November 2008, and the cost of its rescue helped force Latvia to seek an emergency loan from the International Monetary Fund and the European Union. Its viable assets were later transferred to Citadele Bank.
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See also
Cite this entry
- APA
- The Epoch Institute. (2026). Parex Bank. In The Epoch Institute Encyclopedia. https://the-epoch-institute.org/encyclopedia/parex-bank
- MLA
- “Parex Bank.” The Epoch Institute Encyclopedia, The Epoch Institute, 2026, https://the-epoch-institute.org/encyclopedia/parex-bank. Accessed .
- Chicago
- The Epoch Institute. “Parex Bank.” The Epoch Institute Encyclopedia. 2026. https://the-epoch-institute.org/encyclopedia/parex-bank.
- Harvard
- The Epoch Institute (2026) ‘Parex Bank’, The Epoch Institute Encyclopedia. Available at: https://the-epoch-institute.org/encyclopedia/parex-bank (Accessed: ).
Last reviewed October 2026Random entry ↻