Located in northern Europe, Latvia is one of the three Baltic countries. It has been a member of the European Union since 2004, a member of the Eurozone since 2014 and the 35th member of the Organization for Economic Co-operation and Development (OECD) since 2016.
The Latvian banking and financial sector is relatively small, highly concentrated in the capital, Riga, and has a high proportion of foreign capital. There are currently 23 banks operating in the Latvian market; 16 of them are domestic banks, 7 are branches of foreign banks. Most Latvian banks are private and operate as universal banks, but some of them specialize in corporate banking and/or asset management. Most foreign banks originate in the Scandinavian countries: Norway, Sweden, Finland and Denmark. http://www.confiduss.com/en/info/blog/ar...ccount-opening/