History

Founding Stage – Bank of Latvia Banking College

• On 1 June 1992, the Bank of Latvia establishes the Bank of Latvia Banking College as an institution for educating specialists for the financial sector.

• Transition to higher education institution status and establishment as a specialized business school

The Bank of Latvia Banking College becomes BA School of Business and Finance (Banku augstskola, BA). It gets accredited as a higher education institution offering bachelor’s and master’s study programmes in finance and business management.

• Development of international academic cooperation and high-level study programmes

A joint doctoral programme is established in cooperation with RISEBA University of Applied Sciences and Ventspils University of Applied Sciences (2006), as well as a double-degree master’s programme in cooperation with SBS Swiss Business School (2007).

At the same time, BA endorses the United Nations Principles for Responsible Management Education (PRME) principles and commits to implementing the Investors in Excellence standard based on the EFQM model.

• Expansion of specialization and development of new niches (cybersecurity, IT)

A gradual transition takes place from a “traditional banking school” to a broader business school profile focused on finance, technology, and management through the establishment of new study programmes.

In cooperation with the Scottish Qualifications Authority (SQA), BA obtains certification centre status, enabling graduates to acquire the SQA professional qualification in financial management alongside their bachelor’s degree.

• Scientific institution status and strengthening of the research focus

On 2 February 2016, BA is included in the Register of Scientific Institutions, strengthening its status as a research-based higher education institution. The main research directions are defined: financial services and technologies, sustainability and efficiency, strategic resilience, and cybersecurity.

• Modernization of studies and international accreditation

BA’s 2018–2023 strategy focuses on programme modernization, international studies in EU languages, joint programmes, online studies and digitalization, as well as moving toward international accreditation.

In 2019, Banku augstskola receives the CEEMAN IQA quality certificate.

• International reputation and governance reform

In the Eduniversal ranking, BA is awarded Three Palmes of Excellence, recognizing it as a “leading business school with growing international influence.”

In 2022, a is was established as a new governance institution.

• Consolidation decision – integration of BA into the University of Latvia

On 23 May 2023, the Cabinet of Ministers adopted Order No. 308 “On the Reorganization of Banku augstskola,” determining the integration of BA as an autonomous academic institution into the ecosystem of the University of Latvia.

• Consolidation preparation stage

The BA Development Strategy 2024–2025 defines BA as a strong autonomous business school within the ecosystem of the University of Latvia, with a focus on the Baltic Sea region financial ecosystem, digital transformation, international accreditations (AACSB, AMBA, EFMD), and research excellence.

In the Eduniversal ranking, BA achieves the 4 Palmes level, strengthening its status as a top business school with significant international influence.

• Strong momentum in research performance

BA received support under the Horizon Europe programme as the lead partner of the TransScale project (2024).

BA demonstrates continuous improvement in the quality of scientific publications, increased citation impact, and international cooperation in three priority research areas: financial innovation in the digital age, circular economy and sustainability, and strategic resilience and cybersecurity.

• BA School of Business and Finance of the University of Latvia – the business school of the University of Latvia

BA becomes the business school og University of Latvia, specializing in business, finance, and management sciences, particularly in the field of financial technologies and the digital finance ecosystem.