BlueOrange Bank changes its name to BluOr Bank
05 April 2022
In March, 2022, BlueOrange Bank announced change of its name to BluOr Bank AS. The bank introduced the name change with the aim of emphasizing the status of the Bank and strengthening its position in the Latvian and Baltic markets, as well as in other countries, by unifying the brand and legal name of the Bank.
The development of the brand follows the latest global trends towards simplicity and conciseness in the digital environment. Over the past five years, the Bank has been successfully developing and providing a wide range of financial products and services, strengthening its position in Latvia. Through its targeted efforts, the Bank has improved its financial services to legal entities, which resulted in a rapid year-on-year increase in the number of clients - Latvian legal entities. Currently, clients from Latvia, the Baltic States and Europe account for 98% of the total customer share.
The Bank continues to work actively on its strategic priority: providing services to companies and funding them. In five years, the total loan portfolio has doubled and reached EUR 344 million by the end of 2021. Last year, Latvian and Baltic companies were granted funding in the amount of more than 130 million. Thus, the Bank contributed to the development of certain sectors, acquired new export markets and helped to take advantage of new business opportunities that have arisen in a difficult period for the Latvian economy. It should be noted that the Bank's loan portfolio already includes a number of sustainable projects aimed at protecting the environment and climate.
The Bank is successfully developing its potential as a financial institution: it currently ranks among the 6 largest banks in Latvia, and at the end of 2021, it was recognized as one of the five systemically important financial institutions in Latvia. To learn more visit: https://www.bluorbank.lv/en/news/2022/bluor-bank-our-new-brand-and-name