Identification of BIC by IBAN

Published: 30.12.2015 Updated: 01.07.2024

Taking account of the fact that the first four characters of the payment service providers' BIC are used in Latvia's IBAN structure, the explanation of how to identify the BIC of the respective payment service provider from Latvia's IBAN is provided below.

The Single Euro Payment Area (SEPA) aims to create an integrated market for electronic payments in euro with no differences between national and cross-border payments. Regulation (EU) No 260/2012 of the European Parliament and of the Council or the so-called SEPA Migration End-Date Regulation establishing technical and business requirements for credit transfers and direct debits in euro provides that as of 1 August 2014 payments throughout SEPA shall be made on the basis of the unique payment account identifier IBAN*.

The SEPA Migration End-Date Regulation lays down that as of 1 January 2014, within SEPA, including Latvia, the payment service provider no longer requires the payment service user to indicate the BIC** of the payer or payee's payment service provider for national payments. A similar requirement regarding cross-border payment transactions is applicable from 1 February 2016.

The structure of Latvia's IBAN is described in the international standard ISO 13616, for which SWIFT is the designated Registration Authority. Open document in SWIFT homepage.

The control digits shall be calculated in accordance with the calculation method MOD 97-10 described in International Standard ISO 7064 "Information technology - Security techniques - Control sign systems".

IBAN SWIFT en

For example:

	Payment service provider	IBAN structure		BIC
1.	AS BLUEOR BANK	LV**CBBR	** ** *	CBBR	LV22XXX
2.	LUMINOR BANK AS	LV**RIKO	** ** *	RIKO	LV2XXXX
3.	AS "SEB BANKA"	LV**UNLA	** ** *	UNLA	LV2XXXX
4.	AS "INDUSTRA BANK"	LV**MULT	** ** *	MULT	LV2XXXX
5.	"SWEDBANK", AS	LV**HABA	** ** *	HABA	LV22XXX
6.	SIGNET BANK AS	LV**LLBB	** ** *	LLBB	LV2XXXX
7.	AKCIJU SABIEDRĪBA "CITADELE BANKA"	LV**PARX	** ** *	PARX	LV22XXX
8.	AKCIJU SABIEDRĪBA "REĢIONĀLĀ INVESTĪCIJU BANKA"	LV**RIBR	** ** *	RIBR	LV22XXX
9.	LATVIJAS BANKA	LV**LACB	** ** *	LACB	LV2XXXX
10.	AS MAGNETIQ BANK	LV**LAPB	** ** *	LAPB	LV2XXXX
11.	AKCIJU SABIEDRĪBA "RIETUMU BANKA"	LV**RTMB	** ** *	RTMB	LV2XXXX
12.	VALSTS AKCIJU SABIEDRĪBA "LATVIJAS PASTS"	LV**LPNS	** ** *	LPNS	LV21XXX
13.	THE TREASURY OF THE REPUBLIC OF LATVIA	LV**TREL	** ** *	TREL	LV22XXX
14.	OP CORPORATE BANK PLC FILIĀLE LATVIJĀ	LV**OKOY	** ** *	OKOY	LV2XXXX

BIC list

*IBAN - International Bank Account Number
**BIC - Business Identifier Code