Magnetiq Bank
in Latvia 🇱🇻
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About Magnetiq Bank in Latvia
Magnetiq Bank is a Latvian specialized bank focused on providing banking infrastructure and payment solutions for fintech companies, startups, and e-commerce businesses. Formerly known as Latvijas Pasta Banka and later LPB Bank, the institution rebranded to Magnetiq Bank in April 2024 following its acquisition by Signet Bank AS, Latvia's leading investment bank.
The bank operates as a banking-as-a-service provider, offering segregated accounts, payment processing solutions, and comprehensive financial infrastructure to help technology-driven businesses scale their operations. As of 2023, Magnetiq Bank ranks as Latvia's 9th largest bank with a market share of 0.71%.