OREANDA-NEWS. January 09, 2007. In December 2007, Valerijs Kargins, the President of Parex banka, and Andris Riekstins, Head of the Payment Card Division at Parex banka, visited the head office of American Express cards issuing company in New York, reported the press-centre of Parex banka.

During the visit, Valerijs Kargins and Andris Riekstins met with Chairman and CEO of American Express, Kenneth I. Chenault presented an outstanding achievement award to the President of Parex banka in recognition of issuing more than 100,000 American Express credit cards in Latvia. At the same time, an understanding on continued mutual cooperation between Parex banka and American Express was agreed.

In 2005, Parex banka was granted exclusive rights to distribute American Express credit cards in Latvia and today it offers three types of credit cards: American Express Platinum, American Express Gold and Blue from American Express. T hese cards are unique because they are designed to serve local customers at home and abroad to meet their evolving lifestyle needs by providing access to exclusive benefits and services that only these American Express Cards can provide.

From October 2007, a subsidiary of Parex banka in Lithuania Parex Bankas was also granted the right to issue American Express credit cards in Lithuania. The number of credit cards issued in Latvia has exceeded 100,000 in less than three years.