Supported by KPMG in Latvia, Signet Bank completed the acquisition of LPB Bank. KPMG acted as a sell-side financial advisor on the deal and performed a due diligence of the target.
LPB Bank in the transaction result will be rebranded. LPB Bank will continue to operate as a subsidiary of the Signet Bank Group, retaining its existing credit institution license, and focusing on FinTech companies, Banking as a Service (BaaS) and innovative digital financial products.
This transaction will enable Signet Bank Group to increase its business volumes, strengthen its digital solutions and significantly increase and diversify the range of financial services and products offered to customers.
Signet Bank was founded in 1991 and is one of Latvia’s first independent banks. The bank’s strategy focuses on providing financing and capital management services to local entrepreneurs and their businesses. Since the start of 2021, Signet Bank has provided customers with almost EUR 500 million of financing in the form of loans and bonds.
Connect with us
- Find office locations kpmg.findOfficeLocations
- kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia
