OREANDA-NEWS. February 11, 2010. International financial magazine Euromoney has published the results of the Private Banking Survey 2010, nominating Parex banka as the best private banking service provider is eight categories. Parex banka has been recognized as the best bank in the following nominations: Range of investment products, Advisory services, Foreign exchange, Precious metal investments, Family office services, Equity portfolio management, Fixed income portfolio management and Offshore services, reported the press-centre of Parex Banka.

Parex banka is the only Latvian bank with local capital, which has been nominated in the Nordic and Baltic region. The bank has been recognized as the 8th best provider of private banking services in the region, which is a much better result than last year, when Parex banka scored the 14th best result.

Bank’s subsidiary in Lithuania Parex bankas has been recognized as the best in Range of investment products nomination and second best in Real estate investments and Offshore services nominations. Estonian branch, in its turn, has been recognized as the second best in Estonia in Offshore services and Privacy and security nominations.

Euromoney's Private Banking Awards are the most prestigious in the growing area of wealth management. They cover over 60 countries each year, as well as global and regional awards. They are voted by the people who know the industry best - the private bankers themselves. Winning an award is a confirmation of excellence in wealth management, which banks use to promote their credentials to clients.

The annual Private banking survey provides a qualitative and quantitative review of the best services in private banking, by region and by areas of service. Factors such as assets under management, profitability, ratio of clients to relationship managers, and services offered, among other things, are all considered in developing the ranking of top private banks.