Latvijas Krājbanka has a good reason to call itself the oldest commercial bank in Latvia. The bank was established in 1924, during the first period of Latvian independence. In 2003, the privatisation of Latvijas Krājbanka was completed, and 100% of shares changed hands to private shareholders and bank employees. On 20 September 2005 Snoras, one of the largest commercial banks in Lithuania, became the primary shareholder in JSC "Latvijas Krājbanka" having acquired 83.01% Krājbanka shares. Latvijas Krājbanka is a universal network commercial bank, offering high-quality services to businesses and private individuals in Latvia and the markets of the CIS. It services countries which are based on modern technologies and are tailored with of added value and risk minimizations in mind.