DZ BANK joins Primary Dealer group in Latvia
Treasurer Kaspars Āboliņš views the strengthening of cooperation with DZ BANK positively: “The participation of a new international partner in the auctions organized by the Treasury will expand the investor base and foster greater competition and demand for Latvian government securities.”
The Treasury regularly conducts TAP auctions of outstanding Eurobonds and only banks that have entered into a Primary Dealer agreement with the Treasury can participate. With the entry of DZ BANK, Latvia’s group of Primary Dealers now comprises six banks: Citadele banka, Erste Group Bank, Luminor Bank, SEB bankas, Swedbank, and DZ BANK.
DZ BANK has consistently demonstrated strong capabilities in trading Latvian government securities, and its inclusion in the Primary Dealer group represents a strategic step toward deepening long‑term cooperation with the Treasury, providing the bank with direct access to Latvian government securities auctions.
In 2025, The Treasury organized 18 auctions offering TAP issues of outstanding Eurobonds with different maturities originally issued in international financial markets. Through the participation of Primary Dealers, a total of €950 million was raised, accounting for nearly one‑third of Treasury’s total borrowing last year. Since the beginning of 2026, the Treasury has held three auctions, reopening Eurobonds maturing in 2030, 2031, and 2035 in amount of €175 million.
The Treasury introduced the Primary Dealer system in 2013 to support the development and activity of the Latvian government securities market, broadening the investor base, promoting a more active and liquid market environment, enhancing investor accessibility, and reducing risks associated with government debt management.