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The total assets of the 22 banks of the country and branches of foreign banks were LVL 4.4 billion at the end of 2002. The three largest banks control approximately two-thirds of the banking market. Almost all banks are seeking to become full-service domestic banks. Some banks also actively target clients from CIS.
The market is relatively saturated in traditional banking services such as account maintenance and settlements, lending and leasing, but still underdeveloped in corporate finance, asset management and other services.
Central bank
The Bank of Latvia is the independent central bank of Latvia...
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