Question 1

What is TF Bank?

Accepted Answer

TF Bank (TF Bank AB Latvijas filiāle) is the Latvian branch of the Swedish digital banking group TF Bank AB. Operating in Riga, this branch provides consumer banking services focused on lending and digital payment solutions to creditworthy individuals in Latvia. As of 2024, TF Bank ranks as the 12th largest bank in Latvia with a market share of 0.33%.

The Latvian branch demonstrates exceptional profitability, achieving a 7.79% return on assets in 2024, making it the most profitable bank in Latvia relative to total assets. The branch operates under the Swedish banking license and is supervised by both Swedish and Latvian financial authorities.

Question 2

When was TF Bank founded?

Accepted Answer

The TF Bank Latvian branch (TF Bank AB Latvijas filiāle) was officially authorized to operate on September 2, 2021, as an EEA branch of the Swedish parent institution. The parent company TF Bank AB was originally founded in 1987 and received its full banking license in 2012.

TF Bank began operating in the Latvian market in 2016 when the bank launched consumer lending services. In 2021, the branch expanded its offerings to include sales finance (e-commerce solutions) for Latvian merchants and customers.

Question 3

Where is TF Bank headquartered?

Accepted Answer

TF Bank's Latvian branch is headquartered in Riga, Latvia. The registered address is Mūkusalas iela 42C, Rīga, LV-1004, with the customer service office located at Dēļu iela 4, Rīga, LV-1004.

Question 4

Where does TF Bank operate?

Accepted Answer

TF Bank operates throughout Latvia, providing services primarily through digital channels accessible nationwide. The branch maintains physical offices in Riga where customer service and collections departments operate Monday through Friday from 8:00 to 18:00.

Latvian customers can access TF Bank's services through online banking platforms, mobile applications, and remote customer support. The branch serves individuals across all regions of Latvia seeking consumer credit and e-commerce payment solutions.

Question 5

What services does TF Bank offer?

Accepted Answer

TF Bank in Latvia operates in two main business segments:

Consumer Lending: Unsecured consumer loans to creditworthy individuals, with loan amounts and terms tailored to Latvian market conditions. The loans feature flexible repayment options designed for short to medium-term financing needs.

Ecommerce Solutions: Digital payment solutions for online retailers and consumers, enabling merchants to offer flexible payment options at checkout. These sales finance products allow consumers to purchase goods online with convenient payment terms.

Digital Banking Services: The bank provides comprehensive online banking and mobile app access for account management, transaction monitoring, and loan servicing. Customers can manage their accounts 24/7 through digital platforms with secure authentication.

Customer Support: Dedicated customer service team available by phone (66 090 800) and email (info@tfbank.lv) during business hours, with specialized support for overdue payments (66 090 808, kavejums@tfbank.lv).

Payment processing is conducted through Swedbank AS using IBAN: LV17 HABA 0551 0524 0367 0.

Question 6

What makes TF Bank unique?

Accepted Answer

TF Bank in Latvia stands out through several distinctive characteristics:

Exceptional Profitability: As the most profitable bank in Latvia by return on assets (7.79% in 2024), the branch demonstrates superior operational efficiency and risk management capabilities compared to competitors.

Strong Growth Performance: Total assets grew 7.53% in 2024, with loans increasing 11.24%, indicating robust market demand and successful business expansion.

Nordic Banking Standards: Benefits from Swedish parent company's proven banking model, advanced IT infrastructure, and 35+ years of consumer credit expertise, bringing international best practices to the Latvian market.

Digital-First Approach: Operates with minimal physical infrastructure, focusing on efficient digital service delivery that reduces costs and enables competitive pricing.

Swedish Deposit Protection: Deposits are covered by Sweden's deposit guarantee scheme up to 950,000 SEK per depositor through the Swedish National Debt Office (SNDO), providing security backed by the Swedish financial system.

Specialized Focus: Concentrates exclusively on consumer lending and e-commerce solutions, allowing deep expertise in these specific market niches rather than offering full-service banking.

Question 7

What type of financial institution is TF Bank?

Accepted Answer

TF Bank Latvia is an EEA branch (Eiropas Ekonomikas zonas filiāle) of a foreign credit institution. Specifically, it operates as a branch of the Swedish credit institution TF Bank AB, which holds the primary banking license.

As an EEA branch, TF Bank Latvia operates under the EU's freedom of establishment provisions, allowing it to conduct banking activities in Latvia under Swedish banking authorization. The branch is supervised by the Financial and Capital Market Commission of Latvia (Finanšu un kapitāla tirgus komisija) in cooperation with the Swedish Financial Supervisory Authority (Finansinspektionen).

This regulatory structure means the branch follows Swedish banking regulations as its primary framework while complying with Latvian local requirements for consumer protection and market conduct. The branch's registration number in Latvia is 50203334311, and its MFI ID is LV50203334311.

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About TF Bank in Latvia