Pasta krājkase was originally founded in 1924 as the Latvian postal savings bank.

[6] The main shareholders were Lithuanian based Snoras banking group and the Russian businessman Vladimir Antonov.

Later that year, the bank celebrated its 85th anniversary and Ivars Priedītis took over as Chairman of the Board.

Savings Bank continued its activities and development, including supporting important cultural events.

[10][11] A total of EUR 6.1 million was not withdrawn by clients from the banks accounts before the end of the guaranteed remuneration.