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A new service for the customers of the Rietumu Bank: gold bullion bars

08-Jul-2017, 16:51 / Products & Services Rietumu Banka offers its customers a new service: purchase of physical investment gold.

From 3 July, customers can buy 999.9 investment gold bullion bars of 999.9 purity in the cash desk of the Bank. Payment method – non-cash payment.


The current price of gold will be determined by the current exchange quotations and published on the bank's website. It is also important that the transactions with investment gold in Latvia are not subject to value added tax.

The bank has a full set of modern equipment to control the composition and mass of gold bullion bars, and customers when buying investment gold will have the opportunity to check it and personally verify the quality of gold bullion bars.

“We expect that the new service – the sale of gold bullion bars to the customers of the bank – will become widely demanded and popular. Some time ago, we felt that customers are interested in this opportunity and in a short time we prepared a profitable offer. At the initial stage, the bank offers bars of two types – weighing 1 ounce (about 31.1 grams) and 100 grams. In the future, it is planned to expand the variety of weights of the bars offered. Also, the bank is ready to consider the possibility of implementing large individual orders, for example, gold bullion bars with the customer's name or the logo of the company. For those who prefer to keep gold out of the house, it is possible to store the purchased gold bars in the bank by leasing an individual safe-deposit box”, says Tatjana Freiberga, the Banking Operations Department Manager of the Rietumu Bank.

According to experts, the current gold price in the world is not very high, and the current levels of price look attractive enough to buy gold. Practice shows that gold quotes tend to rise during the periods of crises and various kinds of problems, when the yellow metal begins to be perceived as a reliable tool for preserving funds and a "safe haven" for capital.

Moreover, physical (real) gold in many cultures and different countries is perceived as an indispensable element of the family state, the capital that is passed on from generation to generation and symbolizes not only the continuity and inheritance of the family tradition, but also stability and prosperity and a kind of guarantee against financial problems;this is a visible embodiment of a high personal status and independence. Quoting Remarque, "freedom is forged out of gold”.

Finally, gold bullion has high aesthetic qualities and it is an excellent gift to a close person and a good friend.



Eleonora Gailisha
Mass Media and Public Relations
Phone: +371-67020506
Fax: +371-67020563
E-mail: egailisha@rietumu.lv
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