About the Credit Register

The Credit Register has been established in Latvia, which facilitates information exchange between banks and accelerates consideration of customers’ applications. Operations of the Credit Register are governed by the Regulations No. 32 on the Credit Register dated 12 March 2009 elaborated by the Bank of Latvia.

Hereby we inform you that based on these regulations Baltikums Bank should submit information to the Credit Register about its customers-borrowers and guarantors, their liabilities and execution thereof, including information about debtors. 

Information about debtors is submitted to the Credit Register if such customers:

• Have delayed their payments for more than 60 days and the delayed amount, including the interest, is at least LVL 100;
• Have violated provisions of Article 73 of the Law on Credit Institutions (the article stipulates that the customer should provide complete and true information about its financial standing, property, encumbrance thereof, and other information in order for the credit institution to detect whether the customer is a related person to the credit institution or whether it comprises a group of related customers);
• Have allowed other material violations of their loan agreements (including cases when the Bank should execute the collateral to settle the liabilities, when the guarantor takes over execution of liabilities, etc.).

The Bank is entitled to obtain data from the Credit Register about its borrowers, persons related to the borrowers, or persons who submitted a loan application or confirmed that will provide or have provided a guarantee to obtain a loan.

Any individual and legal entity can obtain in person the information included in the Credit Register about them by submitting an application in writing to the Payment Systems Department of the Bank of Latvia at Riga, Bezdeligu iela 3.