Learn About LPB Bank and Its Milestones

LPB Bank has a rich history that spans many years. The bank was established in 1992.

LPB Bank's headquarters is located in Baku, Azerbaijan. LPB Bank has been serving customers for over 30 years.

LPB Bank offers a wide range of financial services, including loans, deposits, and credit cards.

LPB Bank was founded on 5 September 2008.

The bank's name was changed to JSC "LPB Bank" on 15 December 2017.

Until December 2023, JSC "LPB Bank" was wholly owned by the holding company Mono Ltd.

JSC "LPB Bank" was founded on September 5, 2008, marking the beginning of its journey.

The bank underwent a significant change on December 15, 2017, when it was renamed from its original name to JSC "LPB Bank".

Until December 2023, the holding company Mono Ltd held complete ownership of JSC "LPB Bank".

On December 11, 2023, Mono Ltd sold all its shares of JSC "LPB Bank" to JSC "Signet Bank" after receiving necessary approvals from the Bank of Latvia, the European Central Bank, and the Competition Council.

Signet Bank has completed its acquisition of LPB Bank, marking a significant milestone in the bank's history.

The acquisition was finalized on December 11th, after receiving permission from the Bank of Latvia and the European Central Bank.

Signet Bank will operate LPB Bank as a subsidiary, retaining its license and focusing on FinTech services, Banking as a Service (BaaS) services, and innovative digital financial products.

LPB Bank's brand will be changed, and clients who use classic bank products will be offered to establish cooperation with Signet Bank.

Signet Bank's chairman, Roberts Idelsons, sees this acquisition as a strategic step towards the development of Signet Bank Group, which will also allow the bank to tap into the growth potential in the FinTech area.

The acquisition offers Signet Bank Group the opportunity to expand its business capacity, enhance digital solutions, and significantly increase various customer-focused financial services and products.

Signet Bank's shareholders include nine Latvian and international private investors, including Signet Acquisition III, RIT Group, and Reglink LLC.

Here are the key shareholders:

LPB (bank) is a well-established financial institution with a rich history dating back to its founding in 1919. It has since grown to become one of the leading banks in the country.

The bank's headquarters is located in the heart of the city, with a network of branches and ATMs across the country. LPB (bank) is known for its commitment to providing excellent customer service and innovative financial solutions to its clients.

LPB (bank) is a member of the national banking association and is regulated by the central bank, ensuring that it adheres to the highest standards of banking practices and customer protection.

Signet Bank has acquired LPB Bank, a deal that was completed on December 11th.

The acquisition was confirmed by Signet Bank's representatives, who stated that the deal was successfully completed after receiving permission from the Bank of Latvia and the European Central Bank, as well as coordination from the Competition Council.

Signet Bank and LPB Bank will continue to operate as separate entities, with no immediate plans for changes to everyday operations or customer services.

LPB Bank will now operate as a Signet Bank subsidiary, retaining its license and focusing on FinTech services, Banking as a Service (BaaS) services, and innovative digital financial products.

The acquisition offers Signet Bank Group the opportunity to expand its business capacity, enhance digital solutions, and increase customer-focused financial services and products.

Signet Bank's board chairman, Roberts Idelsons, explained that the acquisition will allow the company to tap into the growth potential in the FinTech area and strengthen its financial potential.

Signet Bank shareholders include nine Latvian and international private investors, including Signet Acquisition III, RIT Group, and Reglink LLC.

Here are the key shareholders of Signet Bank:

The LPB Bank annual revenue was $25.7 million in 2025. This is a significant indicator of the bank's financial health and stability.

The LPB Bank's revenue has likely supported its operations and investments in various sectors, enabling it to grow and expand its services.

LPB Bank's annual revenue has been reported to be $25.7 million in 2025.

LPB Bank is based in Riga, Latvia.

The headquarters of LPB Bank is located in Riga, Riga.

LPB Bank has a NAICS code of 522110, which is a specific classification for commercial banks. This code is used for identification and statistical purposes.

The NAICS code for LPB Bank can also be broken down into more general categories, including 522, 52, and 5221. These codes provide a broader classification of the bank's industry.

The NAICS code 52211 is another specific classification for LPB Bank, indicating it is a commercial bank engaged in depository banking activities. This code is used by the US Census Bureau for data collection and analysis.

Explore further: How Do Investment Banks Differ from Commercial Banks

The SIC code is a crucial piece of information for businesses and individuals alike. It's a numerical code that identifies the primary business activity of a company.

LPB Bank has a SIC code of 60, with a more specific code of 602. The SIC code is used for various purposes, including tax purposes and industry classification.

Some businesses have multiple SIC codes, depending on their activities. LPB Bank is an example of this, with two distinct codes: 60 and 602.

The SIC code is an important factor to consider when doing business or researching a company's activities.

For your interest: Banking Code

At LPB, leadership is about empowering employees to take ownership of their work.

The bank's leadership style is collaborative, with open communication and regular feedback.

LPB's employees are encouraged to share their ideas and contribute to decision-making processes.

This approach has led to increased job satisfaction and engagement among employees, with many reporting feeling valued and respected in their roles.

Robert Schoepf is the Chairman of the Board of LPB Bank. His leadership role is a great example of a top employee in action.

Meet the team behind the success of LPB Bank, starting with Robert Schoepf as the Chairman of the Board.

As we explore the world of leadership and employees, let's take a closer look at the number of people working at LPB Bank, which is a mere 24.

Having a small team can have its advantages, allowing for more personalized attention and a sense of community among employees.

In fact, a team of 24 is relatively small, making it easier for leaders to stay connected with each other and their employees.

Working with a small team can also foster a sense of ownership and accountability among employees, which can lead to increased motivation and productivity.

This can be especially true when leaders take the time to get to know their employees and understand their strengths and weaknesses.