Fast decision-making, flexible conditions, and a minimal amount of unnecessary questions – these are the key things entrepreneurs expect from banks when working together. These findings come from a survey on entrepreneurs’ attitudes toward banks, conducted by SKDS market and public opinion research centre, commissioned by Industra Bank.

Raivis Kakānis, Chairman of the Management Board at Industra Bank, emphasises: "Entrepreneurs – both in their business and as individuals – expect responsiveness and accessibility from their bank. For any cooperation to be truly successful, it’s essential to understand what matters most to your partner. While Industra Bank was founded by entrepreneurs for entrepreneurs, we never stop listening closely to the needs of different industries – what’s important to them, where the challenges lie, and how we can solve them. Our ambition is to double our loan portfolio in the next two years, and that requires a deep understanding of our clients’ needs – so we can offer exactly what they need, without unnecessary complications. For those who build and grow, who want to export and expand into new markets.”

When asked about the most important criteria when choosing a bank,

• 94% of entrepreneurs valued fast decision-making; 
• 71% pointed to more flexible lending terms, such as personalised repayment schedules, longer repayment periods, and lower equity requirements;
• 68% said it’s important that the bank does not ask for unnecessary information;
• 58% valued having a dedicated client relationship manager;
• 48% found it important to be able to meet bank management in person when needed.

Speed of decision-making was particularly important to companies in manufacturing, construction, and those with turnover exceeding EUR 4.5 million. Exporting companies also rated this as a very high priority.

Flexible lending terms were especially important to large employers (250+ employees) and businesses with a turnover of more than EUR 4.5 million. Regionally, this was more relevant in Kurzeme and Latgale. Sector-wise, flexibility matters more in manufacturing than in services, due to higher capital intensity.

Bureaucracy was more of a pain point for companies with mixed domestic and foreign capital, as well as smaller businesses (turnover EUR 70–350 thousand) and larger companies (above EUR 4.5 million). It was particularly relevant in manufacturing and services, less so in retail.

Having a dedicated account manager was seen as more important for large businesses than small ones – in fact, twice as important. Exporters and companies with foreign capital also rated this criterion highly.

Interestingly, the option to meet with bank management was most valued by larger companies, those with mixed capital, and businesses based outside of Riga.

About the survey:
Commissioned by Industra Bank, the survey was conducted by SKDS in April and May 2025 among 750 Latvian businesses, selected via a multi-stage quota sampling method from a business database. Methodology: CATI (phone interviews) and CAWI (online survey).

Entrepreneurs were asked: “If your company had to choose a bank today, how important would each of the following features be in making that choice?”