BluOr Bank

BluOr Bank AS is a Latvian commercial bank headquartered in Riga. The institution was established on 22 June 2001 as the joint-stock commercial bank Baltikums. It subsequently operated under the Baltikums Bank name and adopted the BlueOrange Bank name in 2017 before becoming BluOr Bank AS on 21 March 2022. The bank operates in Latvia and provides banking services under the BluOr brand. Publicly available descriptions identify it as a commercial bank rather than a narrowly focused specialist financial institution. Its offering includes conventional banking products and digital banking capabilities, although a complete current product catalogue is not established in the supplied reference material. The bank has positioned technology as part of its customer proposition: in February 2018 it introduced contactless-card-enabled automated teller machines in Latvia, and in May 2018 it described itself as the country’s first online bank. BluOr’s development has also included community-oriented activity. In summer 2017, while operating under the BlueOrange name, it financed the opening of an educational recreation area in Riga. In December 2021, a decision of Latvia’s Financial and Capital Market Commission Council classified the bank among the five systemically important financial institutions in Latvia. This designation reflected its significance within the Latvian financial system and preceded the 2022 change to the BluOr name. According to the supplied reference material, the bank employed approximately 260 people as of October 2025. Its audited 2024 financial report recorded total assets of approximately €1.049 billion, equity of approximately €122.4 million, and net income of approximately €17.9 million. The same material reported a liquidity ratio of 156.28%, return on equity of 20.03%, and return on assets of 1.83%. These figures are presented for the 2024 reporting period and should not be treated as current values beyond that period. The bank was also described as one of Latvia’s largest companies by company rankings, placing among the country’s six largest banks by total assets and ranking 69th in a 2025 list of Latvia’s most valuable companies, compared with 89th the previous year. BluOr Bank’s identity therefore combines a long-running Latvian banking operation, several brand and legal-name transitions, and an emphasis on digital access and modern payment infrastructure. Its principal market remains Latvia, with Riga serving as its central office location.

BluOr Bank traces its history to 22 June 2001, when it was established in Latvia as the joint-stock commercial bank Baltikums. The bank’s central office has been located in Riga, the country’s capital and principal financial centre. Its early and intermediate history is reflected in the former names Baltikums and Baltikums Bank, under which the institution developed as a Latvian commercial banking business. The institution entered a new branding phase in 2017. In September of that year, its legal name was changed to BlueOrange Bank. The BlueOrange period combined conventional banking activity with efforts to modernize customer access and to associate the bank with a more contemporary, digitally oriented identity. During summer 2017, the bank also financed the opening of an educational recreation area in Riga, an initiative that connected the brand with a local community project. Technology became more visible in the bank’s public development during 2018. In February, BlueOrange installed what the supplied reference describes as Latvia’s first contactless-card ATMs. In May, the bank presented BlueOrange as the first online bank in Latvia. These developments emphasized card convenience, self-service access, and online interaction as important elements of the bank’s customer proposition. A regulatory milestone followed in December 2021. Under a 21 December decision of the Council of Latvia’s Financial and Capital Market Commission, the bank was included among Latvia’s five systemically important financial institutions. The designation placed the institution among the banks considered significant to the national financial system. On 21 March 2022, the bank adopted the name BluOr Bank AS. The renaming created the current identity while preserving the continuity of the banking institution founded in 2001. As described in the supplied reference material, BluOr Bank remained an active Latvian commercial bank headquartered in Riga and continued to develop its banking and digital-service operations. The reference material reports that the bank employed approximately 260 people in October 2025. It also reports that the audited 2024 financial statements showed assets of approximately €1.049 billion, equity of approximately €122.4 million, and net income of approximately €17.9 million. The bank was described as ranking within Latvia’s top six banks by total assets. Additional historical detail about ownership, founders, executive leadership, international operations, and the precise composition of its current product portfolio is not established by the supplied sources.

1. 2022BluOr Bank name adopted

   The institution was renamed BluOr Bank AS on 21 March 2022.

   Source
2. 2021Recognized as systemically important

   A 21 December decision by Latvia’s Financial and Capital Market Commission Council placed the bank among Latvia’s five systemically important financial institutions.

   Source
3. 2018Contactless card ATMs introduced

   BlueOrange installed contactless-card-enabled ATMs in Latvia, described in the source as the country’s first such machines.

   Source
4. 2018Online banking identity expanded

   In May 2018, BlueOrange stated that it had become the first online bank in Latvia.

   Source
5. 2017Legal name changed to BlueOrange Bank

   In September 2017, the bank changed its legal name from the Baltikums-era identity to BlueOrange Bank.

   Source
6. 2001Bank founded as Baltikums

   The institution was founded on 22 June 2001 as the Latvian joint-stock commercial bank Baltikums.

   Source

A Latvian commercial bank combining established domestic banking operations with digital banking and modern payment access.

• Online bankingDigital banking2018

  BluOr’s digital banking proposition developed prominently during its BlueOrange period. In May 2018, the bank described itself as the first online bank in Latvia, making online access a central part of its modernization and customer-service narrative. The supplied sources do not provide a complete list of current online features.

• Contactless card ATMsSelf-service banking2018

  In February 2018, the bank introduced ATMs capable of working with contactless cards. The initiative focused on faster, more convenient self-service access and was presented as a first for Latvia in the supplied reference material.

• Commercial banking servicesBanking2001

  BluOr Bank operates as a commercial bank in Latvia. Its banking activity encompasses account, payment, deposit, card, and related financial services, although the supplied reference material does not specify the full current range or detailed terms of each service.

• 2017Riga educational recreation area

  Latvia

  While operating as BlueOrange, the bank financed the opening of an educational recreation area in Riga during summer 2017. The project represented a local community and education-oriented initiative associated with the bank.

  Outcome. The supplied material confirms the opening of the area but does not provide further information about its continuing operation or measurable campaign results.

  Source

• 2022Rebrand to BluOr BankStrategy

  After operating as BlueOrange Bank, the institution undertook another identity change while retaining continuity as the Latvian bank founded in 2001.

  What changed. The bank changed its name to BluOr Bank AS on 21 March 2022.

  Aftermath. BluOr Bank became the institution’s current public identity and continued operating from Riga.

  Source
• 2018Launch of contactless card ATM capabilityProduct launch

  The bank sought to modernize self-service banking and card access in Latvia.

  What changed. BlueOrange installed contactless-card-enabled ATMs in February 2018.

  Aftermath. The initiative was described as Latvia’s first contactless card ATM deployment in the supplied source.

  Source
• 2018Expansion of online banking positioningStrategy

  Digital access was becoming a visible part of the bank’s customer proposition during the BlueOrange period.

  What changed. In May 2018, the bank presented BlueOrange as the first online bank in Latvia.

  Aftermath. The announcement reinforced the bank’s technology-oriented positioning, although the supplied material does not document subsequent product metrics.

  Source
• 2017Rebrand and legal-name change to BlueOrange BankStrategy

  The bank had operated under the Baltikums and Baltikums Bank identities since its 2001 establishment.

  What changed. In September 2017, the institution changed its legal name to BlueOrange Bank.

  Aftermath. The BlueOrange identity was used during the bank’s subsequent digital-service and payment-access initiatives before the institution adopted the BluOr Bank name in 2022.

  Source

• 2022BluOr Bank adopts its current name

  BlueOrange Bank was renamed BluOr Bank AS on 21 March 2022, marking the latest major stage in the institution’s brand development.

  OtherLeadership change
  Source
• 2021Bank classified as systemically important financial institution

  A 21 December 2021 decision by the Council of Latvia’s Financial and Capital Market Commission placed the bank among Latvia’s five systemically important financial institutions.

  RegulationOther
  Source
• 2018BlueOrange launches online banking positioning

  In May 2018, the bank announced that BlueOrange had become the first online bank in Latvia, highlighting its digital-service strategy.

  Product launch
  Source
• 2018BlueOrange installs contactless card ATMs

  The bank installed Latvia’s first automated teller machines supporting contactless cards in February 2018.

  Product launchOther
  Source
• 2017BlueOrange finances educational recreation area in Riga

  While operating under the BlueOrange name, the bank financed the opening of an educational recreation area in Riga during summer 2017.

  Campaign
  Source

1. BluOr Bank AS
2. BluOr Bank official website