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Baltic International Bank AS

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uuid002m5m1

Namestring
Baltic International Bank AS
Legal namestring
Baltic International Bank SE
Websiteurl
bib.eu
Company typeenum
Private
Founded yearint
1993
Descriptiontext

Baltic International Bank AS (legal name: Baltic International Bank SE) is a Latvian credit institution founded in 1993 and headquartered at Marijas street 2A, Riga, LV-1050. Historically it served private and corporate clients in Latvia with banking and wealth management services, and it previously held a 99% stake in a Ukrainian construction subsidiary (TOB "БУДІВЕЛЬНА КОМПАНІЯ УКРБУДРЕКОНСТРУКЦІЯ"), giving it operating exposure across Latvia, Ukraine, and Bulgaria, including real estate holdings in each jurisdiction.

On 24 January 2024, the Economic Affairs Court declared the bank insolvent, terminating its operating banking franchise and placing it under the administration of insolvency administrator Linda Sniega-Svilāne. The bank is no longer conducting banking activity; BluOr Bank AS has been engaged as the beneficiary bank for settlement of residual transactions. Its current operations are confined to the realization of the insolvency estate, comprising 561 movable items, artwork, real estate in Latvia, Ukraine, and Bulgaria, and claim rights — including a default-designated claim against Green Growth Fund 2 GmbH & Co. KG (EUR 629,110.14 outstanding on a EUR 3,784,269.93 total investment). Asset disposal is conducted through an online auctions platform (auctions.bib.eu) built on WooCommerce, with proceeds distributed to creditors under the insolvency regime. There is no disclosed revenue, and the historical headcount figure of 251–500 employees does not reflect current operations.

Short descriptiontext

Baltic International Bank AS is a Latvian credit institution founded in 1993 that was declared insolvent on 24 January 2024. It no longer conducts banking; its sole activity is liquidating real estate, artwork, movable assets, and claim rights via auctions.bib.eu under court-appointed administration.

Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersRiga, Latvia
HQ citystring
Riga
HQ countrystring
Latvia
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
private banking services, wealth management, investment banking, credit institution, asset liquidation auctions
Industry3 codes
1Insolvency, Restructuring & Bankruptcy Administration
CodeBPAHABALPrimaryYes
2Bankruptcy, Restructuring & Insolvency Law
CodeBPAHAAAHPrimaryNo
3Debt Relief, Restructuring & Sovereign Advisory Programs
CodeBPADACALPrimaryNo
NAICS code1 code
  • Commercial Banking52211
SIC code1 code
  • National Commercial Banks6021
Product category
Private Banking
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components3 values
Operations, Personnel, Others
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Baltic International Bank SE was a Latvian credit institution founded in 1993 providing investment and private banking services. Following insolvency declared on 24 January 2024, the company no longer conducts banking operations and is now managed by an insolvency administrator who sells the bank's residual assets — real estate in Latvia/Ukraine/Bulgaria, movable property (IT equipment, furniture, vehicles), claim rights against debtors, and artworks/precious metals — via dedicated auction platforms and direct written offers.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Baltic International Bank SE is an insolvent credit institution declared bankrupt on January 24, 2024. The company is no longer operating as a going concern and is in the process of liquidating its assets under insolvency proceedings administered by Linda Sniega-Svilāne. The remaining product portfolio consists entirely of asset disposition services: an online auction platform (auctions.bib.eu) for selling movable property (IT equipment, furniture, building materials, dishes, safes, vehicles), real estate properties in Latvia/Ukraine/Bulgaria, claim rights against various debtors, and artwork/precious metals. The auction platform operates as a WooCommerce-based e-commerce system.

Product and service5 records
1Baltic International Bank Asset Auctions Platform
CategoryAsset disposition
Description

WooCommerce-based online e-commerce platform (auctions.bib.eu) used by the insolvency administrator to list and sell the insolvent bank's movable property, real estate, claim rights, and artworks to interested buyers.

2Real Estate Auctions
CategoryAsset disposition
Description

Sale of residential and commercial properties owned by the insolvent bank in Latvia, Ukraine, and Bulgaria through auctions and price surveys.

3Movable Property Auctions
CategoryAsset disposition
Description

Auction sale of movable assets including IT equipment, furniture, construction materials, fixtures, dishes, safes, vehicles, and other office equipment — a total of 561 items listed across multiple categories.

4Claim Rights Sales
CategoryAsset disposition
Description

Sale of the bank's claim rights against debtors, including the claim against Green Growth Fund 2 GmbH & Co. KG (GGF2) valued at EUR 629,110.14, conducted as ascending-bid auctions on the government's Electronic Auction Platform (izsoles.ta.gov.lv).

5Artwork and Precious Metals Sales
CategoryAsset disposition
Description

Sale of artworks (paintings and silver artifacts, including the silver cup "Renaissance of the 21st Century" by Oļegs Auzers) and gold bars owned by the bank, conducted via price surveys and offers to the administrator.

Partnership2 partners
1State Archives of Latvia
Strategic tierSupportingTypeOthers
Description

The National Archives of Latvia (Šķūņu street 11, Riga, LV-1050) stores the bank's archived customer transaction account statements and securities account statements from 2009 to 2024.

bib.eu
2Wermuth Investment Management GmbH
Strategic tierMinorTypeOthers
Description

The investment manager of Green Growth Fund 2 GmbH & Co. KG (GGF2). On 27 July 2022, they designated Baltic International Bank SE as a Final Defaulting Investment Partner.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Market position
Competitive moat2 records

Each record includes

Type, Details

Key highlights3 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment2 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Baltic International Bank AS

Private Bankingbib.eu

Baltic International Bank AS is a Latvian credit institution founded in 1993 that was declared insolvent on 24 January 2024. It no longer conducts banking; its sole activity is liquidating real estate, artwork, movable assets, and claim rights via auctions.bib.eu under court-appointed administration.

What Baltic International Bank AS does

Baltic International Bank AS (legal name: Baltic International Bank SE) is a Latvian credit institution founded in 1993 and headquartered at Marijas street 2A, Riga, LV-1050. Historically it served private and corporate clients in Latvia with banking and wealth management services, and it previously held a 99% stake in a Ukrainian construction subsidiary (TOB "БУДІВЕЛЬНА КОМПАНІЯ УКРБУДРЕКОНСТРУКЦІЯ"), giving it operating exposure across Latvia, Ukraine, and Bulgaria, including real estate holdings in each jurisdiction.

On 24 January 2024, the Economic Affairs Court declared the bank insolvent, terminating its operating banking franchise and placing it under the administration of insolvency administrator Linda Sniega-Svilāne. The bank is no longer conducting banking activity; BluOr Bank AS has been engaged as the beneficiary bank for settlement of residual transactions. Its current operations are confined to the realization of the insolvency estate, comprising 561 movable items, artwork, real estate in Latvia, Ukraine, and Bulgaria, and claim rights — including a default-designated claim against Green Growth Fund 2 GmbH & Co. KG (EUR 629,110.14 outstanding on a EUR 3,784,269.93 total investment). Asset disposal is conducted through an online auctions platform (auctions.bib.eu) built on WooCommerce, with proceeds distributed to creditors under the insolvency regime. There is no disclosed revenue, and the historical headcount figure of 251–500 employees does not reflect current operations.

Baltic International Bank AS firmographics

Firmographics
Name
Baltic International Bank AS
Legal name
Baltic International Bank SE
Website
https://bib.eu
Company type
Private
Founded year
1993
Operating status
Closed
Headcount range
251–500 employees
Short description
Baltic International Bank AS is a Latvian credit institution founded in 1993 that was declared insolvent on 24 January 2024. It no longer conducts banking; its sole activity is liquidating real estate, artwork, movable assets, and claim rights via auctions.bib.eu under court-appointed administration.
Ownership category
akta.pro rank

Baltic International Bank AS industry classification

Industry
Product category
Private Banking
NAICS
Commercial Banking (52211)
SIC
National Commercial Banks (6021)
akta.pro primary industry
Insolvency, Restructuring & Bankruptcy Administration (BPAHABAL)
akta.pro secondary industries
Bankruptcy, Restructuring & Insolvency Law (BPAHAAAH), Debt Relief, Restructuring & Sovereign Advisory Programs (BPADACAL)

Keywords

  • Private banking services
  • Wealth management
  • Investment banking
  • Credit institution
  • Asset liquidation auctions

Where Baltic International Bank AS is headquartered

Location

Headquarters

HQ city
Riga
HQ country
Latvia
HQ region
Europe

Offices1 record

Markets served

Baltic International Bank AS business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Personnel, Others

Distribution channels3 records

Marketing channels3 records

Baltic International Bank AS product offering

Product offering

Core offering

Baltic International Bank SE was a Latvian credit institution founded in 1993 providing investment and private banking services. Following insolvency declared on 24 January 2024, the company no longer conducts banking operations and is now managed by an insolvency administrator who sells the bank's residual assets — real estate in Latvia/Ukraine/Bulgaria, movable property (IT equipment, furniture, vehicles), claim rights against debtors, and artworks/precious metals — via dedicated auction platforms and direct written offers.

Product overview

Baltic International Bank SE is an insolvent credit institution declared bankrupt on January 24, 2024. The company is no longer operating as a going concern and is in the process of liquidating its assets under insolvency proceedings administered by Linda Sniega-Svilāne. The remaining product portfolio consists entirely of asset disposition services: an online auction platform (auctions.bib.eu) for selling movable property (IT equipment, furniture, building materials, dishes, safes, vehicles), real estate properties in Latvia/Ukraine/Bulgaria, claim rights against various debtors, and artwork/precious metals. The auction platform operates as a WooCommerce-based e-commerce system.

Differentiator

Problem solved

Functional benefit

Products and services

  • Baltic International Bank Asset Auctions Platform WooCommerce-based online e-commerce platform (auctions.bib.eu) used by the insolvency administrator to list and sell the insolvent bank's movable property, real estate, claim rights, and artworks to interested buyers.
  • Real Estate Auctions Sale of residential and commercial properties owned by the insolvent bank in Latvia, Ukraine, and Bulgaria through auctions and price surveys.
  • Movable Property Auctions Auction sale of movable assets including IT equipment, furniture, construction materials, fixtures, dishes, safes, vehicles, and other office equipment — a total of 561 items listed across multiple categories.
  • Claim Rights Sales Sale of the bank's claim rights against debtors, including the claim against Green Growth Fund 2 GmbH & Co. KG (GGF2) valued at EUR 629,110.14, conducted as ascending-bid auctions on the government's Electronic Auction Platform (izsoles.ta.gov.lv).
  • Artwork and Precious Metals Sales Sale of artworks (paintings and silver artifacts, including the silver cup "Renaissance of the 21st Century" by Oļegs Auzers) and gold bars owned by the bank, conducted via price surveys and offers to the administrator.

Companies that use Baltic International Bank AS

Customer profile

Ideal customer profiles1 record

Baltic International Bank AS technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Baltic International Bank AS partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered supporting and minor.

  • State Archives of LatviasupportingOthersThe National Archives of Latvia (Šķūņu street 11, Riga, LV-1050) stores the bank's archived customer transaction account statements and securities account statements from 2009 to 2024.
  • Wermuth Investment Management GmbHminorOthersThe investment manager of Green Growth Fund 2 GmbH & Co. KG (GGF2). On 27 July 2022, they designated Baltic International Bank SE as a Final Defaulting Investment Partner.

Recent moves6 records

Baltic International Bank AS competitors and assessment

Company assessment

Market position

Competitive moat2 records

Key highlights3 records

Customer concentration

Baltic International Bank AS social profiles

Digital presence

Baltic International Bank AS financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Baltic International Bank AS leadership team

Management profile

Number of profiles

Profiles1 record

Baltic International Bank AS subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Baltic International Bank AS funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Baltic International Bank AS M&A and investment

M&A and investment

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baltic International Bank AS

What does Baltic International Bank AS do?

Baltic International Bank SE was a Latvian credit institution founded in 1993 providing investment and private banking services. Following insolvency declared on 24 January 2024, the company no longer conducts banking operations and is now managed by an insolvency administrator who sells the bank's residual assets — real estate in Latvia/Ukraine/Bulgaria, movable property (IT equipment, furniture, vehicles), claim rights against debtors, and artworks/precious metals — via dedicated auction platforms and direct written offers.

Is Baltic International Bank AS a public or private company?

Baltic International Bank AS is a private company. It is classified as unknown and is currently closed.

When was Baltic International Bank AS founded?

Baltic International Bank AS was founded in 1993. It employs 251 to 500 people.

Where is Baltic International Bank AS based?

Baltic International Bank AS is headquartered in Riga, Latvia, in the Europe region.

Does Baltic International Bank AS have an API?

No public API is recorded for Baltic International Bank AS.

What industry is Baltic International Bank AS in?

Baltic International Bank AS's product category is Private Banking. Its primary akta.pro industry code is BPAHABAL, Insolvency, Restructuring & Bankruptcy Administration, with a secondary code of BPAHAAAH, Bankruptcy, Restructuring & Insolvency Law. Its NAICS code is 52211 and its SIC code is 6021.

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Live signals
Eng.lsm.lvNoraida aizstāvju lūgumu «Baltic International Bank» krimināllietu skatīt slēgtiLatvia's Economic Affairs Court on Tuesday rejected lawyers' requests to hold the "Baltic International Bank" money laundering case in closed sessions, beginning a substantive hearing into the insolvent bank's officials. Prosecutors charged five bank employees and major shareholder Valery Belokon with laundering about 20 million euros, with the illicit funds allegedly added to the bank's capital. The case spans over 320 volumes.GlobeNewswireViktors Bolbats Becomes Chairperson and Guntars Reidzāns Becomes Member of the Management Board of Baltic International BankOn 21 June, Viktors Bolbats became chairperson of Baltic International Bank's management board, and Guntars Reidzāns joined as a member. Bolbats said the bank has implemented a new strategy on capital management and sustainable investments, with customer portfolio now 23% Latvian and over 45% Western European.GlobeNewswireCORRECTION: Baltic International Bank continues implementing its business strategy aimed at wealth management and responsible investmentsBaltic International Bank reported Q1 2018 customer funds of EUR 432 million and assets under management of EUR 63.37 million. Operating income was EUR 2.59 million, with losses of EUR 727 thousand due to de-risking activities. Shareholders increased share capital by EUR 6 million in early 2018.GlobeNewswireBaltic International Bank continues implementing its business strategy aimed at wealth management and responsible investmentsBaltic International Bank reported Q1 2018 customer funds of EUR 432 million and assets under management of EUR 63.37 million. Operating income was EUR 2.59 million, with net fee and commission income at 46.2% of total. The bank also increased share capital by EUR 6 million and sponsored cultural projects.GlobeNewswireAnnual Shareholders’ Meeting of Baltic International Bank HeldBaltic International Bank held its annual shareholders' meeting on 27 April 2018, approving the 2017 financial statements and reports. The meeting appointed the 2018 auditor and elected four members to the Supervisory board for five-year terms.GlobeNewswireCORRECTION: On the unaudited financial results of Baltic International BankBaltic International Bank reported unaudited 2017 results showing a loss of EUR 8.09 million, with assets of EUR 297.95 million and deposits up 25.5% to EUR 444 million. The bank's shareholders approved a EUR 6 million capital increase in January 2018 to support expansion.GlobeNewswireOn the unaudited financial results of Baltic International BankBaltic International Bank reported unaudited 2017 results showing assets of EUR 297.95 million and a net loss of EUR 8.09 million. Deposits rose 25.5% to EUR 444 million, while the loan portfolio was EUR 62.73 million. Shareholders approved a EUR 6 million capital increase in January 2018.GlobeNewswireBaltic International Bank” is strengthening its management teamIlona Gulchak, former Chairperson of Baltic International Bank's Management Board, joined the Supervisory Board, while Viktors Bolbats became Deputy Chairperson. The changes support the bank's transformation to expand into new markets and offer high-end services, approved by the Financial and Capital Market Commission.GlobeNewswireCORRECTION: On the financial results of Baltic International BankBaltic International Bank reported 2017 financial results, with assets of EUR 303.35 million and a loss of EUR 2.67 million. Deposits rose 25.5% to EUR 444 million, and the bank's total capital ratio reached 14.98%. Shareholders approved a EUR 6 million capital increase in January 2018.