User:Andinaan/BlueOrange Bank

Joint stock company BlueOrange Bank is a bank in Latvia. It was founded in 2001 under the name “Baltikums”.

History
The bank was founded in 22 June 2001 as a joint-stock company — commercial bank “Baltikums”. It was founded by AS “Baltikums Investīcijas”, owning an insurance company “Baltikums”. In June 2011, shortly before its 10th anniversary, the name of the bank was changed to Baltikums Bank.In January 2017, the bank announced that it will continue its operations under a new brand name — BlueOrange, and in September 2017 the bank changed its legal name to BlueOrange Bank.

In February 2018, BlueOrange installed first contactless ATMs in Latvia. In May 2018, BlueOrange became the first online bank in Latvia. Online or remote identification means that the client does not need to visit the bank's subsidiary in order to open an account. Client identification in person is replaced by a video-call. Any other communication (sending documents, cards) is carried out electronically and though the e-mail.

In September 2018, the largest storage facility in the Baltic states was opened by the bank for its clients.

Since 2018, the priority of BlueOrange is providing support for small and medium-sized companies. The bank issues loans to companies operating in the sectors of manufacturing, trading, logistics, and agricultural export. The Bank's historical specialisation is the financing of shipping and trade.

Activity
The largest shareholder of BlueOrange Bank is AS BBG. The bank is owned by four Latvia-based entrepreneurs: Aleksandrs Peškovs, Sergejs Peškovs, Andrejs Kočetkovs и Olegs Čepulskis. The bank’s head office is located in Riga.

Financial indicators as on 31 December 2019:


 * Liquidity ratio: 84%


 * Return on equity (ROE): 9.3%


 * Return on assets (ROA): 1,2%


 * Own funds: EUR 66 million


 * Assets: EUR 806 million

BlueOrange is included in the top 500 largest companies in Latvia and ranks among the largest top-6 banks in Latvia by its assets.

Social responsibility
To demonstrate the role of a socially responsible company in pursuit of public interest goals, in December 2013, the Bank established a charity fund. The charity fund BeOpen is an independent public organisation, whose main area of activity is charity and supporting the most vulnerable part of society and children with disabilities. BeOpen acts on the basis of statutes according to the guidelines and defined priorities established by the fund. The organisation has received a public benefit status that allows the donors to receive income tax allowances.

Appreciation articles and awards

 * Transaction co-financed by BlueOrange receives Baltic M&A and Private Equity Award.
 * Recognition to the commissioning party for the successful realisation of the renovation project of the building at Jekaba 2, Riga.
 * BlueOrange recreational place in Lucavsala — the “Most Sustainable Project of 2017”.
 * Recognition from the light festival “Staro Riga — 2017”.