Latvijas Krājbanka

Founded in 1924 as a state savings bank, Latvijas Krājbanka was one of the longest-operating and largest banks in Latvia, providing universal banking services to both private and corporate clients. After Latvia regained independence, it was privatized and became a public joint-stock company. The bank's operations were abruptly halted in November 2011 after its majority shareholder, the Lithuanian bank Snoras, was nationalized and a significant shortfall of assets was discovered at Krājbanka. This led to its insolvency, the revocation of its banking license, and a multi-year liquidation process, marking one of the most significant bank failures in Latvian history.