On Monday, August 10, 2009, by resolution of the Council of Mortgage bank (Mortgage and Land Bank of Latvia), former Deputy Chairman of the Board Mr. Rolands Paņko was appointed as the Chairman of the Board of Mortgage bank. This resolution was made in response to the letter of resignation, submitted by Mr. Inesis Feiferis, requesting to relieve him from the post of the Chairman of the Board.

 

The representative of the Mortgage bank shareholder Mr. Mārtiņš Bičevskis is to continue negotiations with Mr. Feiferis on options to have him further working with the Bank to make use of his experience.

 

Says Mr. Mārtiņš Bičevskis, the State Secretary of the Ministry of Finance: “The Ministry of Finance highly estimates the current work of Mr. Inesis Feiferis as the Head of Mortgage bank. Under Mr. Feiferis’ management, the Bank has implemented a number of projects, which have provided considerable contribution to the development of the national economy of Latvia. The Ministry particularly appraises the Bank’s activity in the field of business support services. The Ministry of Finance respects Mr. Feiferis’ decision to leave the post of the Chairman of the Board of Mortgage bank and is convinced that Mr. Rolands Paņko, who has been appointed the Chairman of the Board upon the Council resolution, will proceed with implementation of the Bank’s development strategy as successfully as his predecessor.”

 

Mr. Inesis Feiferis: “The time spent working in Mortgage bank has been intense and full of challenges. We have worked on formation of a national development bank, developing new services for our clients, taking an active part in development of legislation and shaping the business environment into order. I, being the head of the organization, I am content that I can step down from the post of the Chairman of the Board with ease of mind, as a powerful and experienced team, built in these years, is left behind to further the work we started together.

I am turning 60 this year, and I have decided that the time has come for a change in my life. I will be happy if I, within my competence, can support the Bank in its operations further on.”

 

Mr. Inesis Feiferis (Dr.econ.) has been the Chairman of the Board of Mortgage bank since 1997. Prior to that, he has headed the state joint-stock company “Laukkredīts”, held the position of State Secretary in the Ministry of Economics and other executive positions.

 

Mr. Rolands Paņko: “I highly estimate this time – 12 years, which I have had together with Mr. Inesis Feiferis working in the Board of the Bank. We, in the Bank, will continue to pursue the goals, previously selected together. Now, according to the policies of the Declaration of the Prime Minister Valdis Dombrovskis’ Government, a dynamic work is in progress on formation of a development bank, which would serve as support to the national economy of Latvia. We will carry on with promotion of small and medium enterprises development, further develop the launched microlending programme, and see that our operations complemented the financial services of commercial banks in accordance to national needs.”

Mr. Rolands Paņko started to work with Mortgage bank in 1993 as inspector, and has been in the Board of the Bank since 1997.