About the university
BA School of Business and Finance began on 1 June 1992 as the Bank of Latvia Banking College, set up to train people for the financial sector. It later became a higher education institution (Banku augstskola) teaching bachelor's and master's degrees in finance and business.
In 2023 the Latvian government decided to bring the school into the University of Latvia. It ran as "BA School of Business and Finance of the University of Latvia" from September 2025, and from 1 September 2026 it is called the University of Latvia FinTech Business School. Degrees are now listed and awarded through the University of Latvia.
The school is known for banking, finance and fintech, with double degrees with SBS Swiss Business School and a growing cybersecurity management offer. For Indian students the appeal is a small, specialist school in central Riga with English-taught MBA and finance master's at modest fees, often with evening and weekend classes.
The school's campus on Krišjāņa Valdemāra Street is in Riga city centre, at the same address (Valdemāra 161) as one of the University of Latvia's student hotels.
- Founded
- 1 June 1992 by the Bank of Latvia, as a college for financial-sector specialists
- Type
- Public business school within the University of Latvia
- Current name
- University of Latvia FinTech Business School (FTBS) from 1 September 2026
- Campus
- 161 Krišjāņa Valdemāra Street, Riga city centre
- English-taught degrees
- 3 bachelor's and 6 master's options in finance, business, cybersecurity management and fintech
- Fees (non-EU)
- €3,300–€8,300 a year, listed with 2026/27 admissions
- Quality label
- CEEMAN IQA certificate (2019)
Rankings
Popular courses with Indian students
- Postgraduate
Business Administration (EN), 2 years (MBA)
- Fee / year
- €3,300
- Duration
- 2 years (120 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Postgraduate
Business Administration (EN), 1.5 years (MBA)
- Fee / year
- €3,300
- Duration
- 1.5 years (90 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Postgraduate
Cybersecurity Management (EN), 2 years
- Fee / year
- €5,200
- Duration
- 2 years (120 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Postgraduate
Cybersecurity Management (EN), 2.5 years
- Fee / year
- €4,600
- Duration
- 2.5 years (150 ECTS, with internship)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Postgraduate
International Finance and Banking (EN), 2 years
- Fee / year
- €6,600
- Duration
- 2 years (120 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Postgraduate
International Finance and Banking (EN), 1.5 years
- Fee / year
- €8,300
- Duration
- 1.5 years (90 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Undergraduate
- Fee / year
- €5,900
- Duration
- 4 years (240 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
- Undergraduate
Finance Management Information Systems (EN)
- Fee / year
- €4,800
- Duration
- 4 years (240 ECTS)
- Intakes
- Autumn semester (2026/27 applications for foreign applicants opened 1 January 2026)
- English
- IELTS 6.0, TOEFL iBT 80 (tests up to 21 Jan 2026), PTE Academic 55 or Cambridge B2 First (grade B)
Fees for international students
| Course | Duration | Fee / year (EUR) | Approx. in rupees |
|---|---|---|---|
| Business Administration (EN), 2 years (MBA) | 2 years (120 ECTS) | €3,300 | ≈ ₹3.5 lakh |
| Business Administration (EN), 1.5 years (MBA) | 1.5 years (90 ECTS) | €3,300 | ≈ ₹3.5 lakh |
| Cybersecurity Management (EN), 2 years | 2 years (120 ECTS) | €5,200 | ≈ ₹5.5 lakh |
| Cybersecurity Management (EN), 2.5 years | 2.5 years (150 ECTS, with internship) | €4,600 | ≈ ₹4.9 lakh |
| International Finance and Banking (EN), 2 years | 2 years (120 ECTS) | €6,600 | ≈ ₹7 lakh |
| International Finance and Banking (EN), 1.5 years | 1.5 years (90 ECTS) | €8,300 | ≈ ₹8.8 lakh |
| International Finance (EN) | 4 years (240 ECTS) | €5,900 | ≈ ₹6.3 lakh |
| Finance Management Information Systems (EN) | 4 years (240 ECTS) | €4,800 | ≈ ₹5.1 lakh |
Fees are for international students for the entry year shown on each course page and can rise each year. Approximate exchange rates (based on ECB reference rates, March 2026). Actual rates on your payment date will differ.
Want a course shortlist with fees?Our counsellor will compare courses at UL FinTech Business School (formerly BA School of Business and Finance) with similar universities in Latvia.
Scholarships
- Degree students from countries with a bilateral agreement with Latvia
Latvian State Scholarships for international applicants
Value: Not stated on the university page; up to two semesters per study cycle
Eligibility: Only for citizens of countries with an education agreement with Latvia; check whether India is included in the current call. Applications go through the State Education Development Agency.
Official page (opens in a new tab) - Enrolled students
University of Latvia Foundation patron scholarships
Value: Varies by scholarship
Eligibility: For outstanding students and students with limited means; information for non-EU students is available on request from the Foundation.
Official page (opens in a new tab)
Admission requirements
Undergraduate
- Class 12 (Senior Secondary) certificate and mark sheet. The University of Latvia accepts Indian applicants only with 1st or 2nd class/division results; CBSE students who finished in 2016 or later must also send their Admission card.
- For non-EU applicants: maths grade at least 8 out of 10 (or economics/business at 8 if there is no maths grade) and an average of at least 6 out of 10, converted from your Indian marks. Finance Management Information Systems asks for maths at 4 out of 10.
- An SAT score of at least 1200, because your schooling was outside the EU.
- An online interview for International Finance and Business Process Management.
- English: IELTS 6.0, PTE Academic 55, TOEFL iBT or Cambridge B2 First.
Postgraduate
- A bachelor's degree in a related field (business, economics, finance or management; social sciences or ICT for Cybersecurity Management). Some programmes accept other degrees with two to three years of relevant work experience.
- A 3-year Indian BA/BSc (General) counts as only two years of university study in Latvia, so you would also need a master's. A 4-year bachelor's or a bachelor's with specialisation is accepted as a full degree.
- An average grade of at least 60% of the maximum, with every subject passed.
- SAT 1200, GMAT 595 or GRE 320 (taken in the last five years), because your degree is from outside the EU.
- An online interview, a CV, and for some programmes an entrance exam.
Documents
- Passport
- Class 12 certificate and mark sheet, or bachelor's degree and transcript, as certified copies in the original language and in English
- Apostille on education documents and on the police clearance (statement on punishability)
- English test result (taken in the last five years)
- SAT, GMAT or GRE score
- CV (master's)
Check if you are eligibleShare your marks and test scores and our counsellor will tell you which courses you can apply for.
English language requirements
| Test or route | Typical requirement |
|---|---|
| IELTS Academic | 6.0 |
| PTE Academic | 55 |
| TOEFL iBT | 80 for tests taken up to 21 January 2026; check the new-scale score for later tests |
| Other tests | Cambridge B2 First (grade B), C1 Advanced or C2 Proficiency; LanguageCert B2 Communicator. Duolingo is not listed |
| Exemption | Only for previous study in English in countries such as the UK, US, Canada, Australia, Ireland or New Zealand; English-medium study in India is not on the list |
Accommodation and living costs
International degree students can apply for the University of Latvia's student hotels once they are accepted. One of them is at Krišjāņa Valdemāra 161, the same address as the school's campus. Booking for the autumn semester opens on 25 June, the minimum stay is two months and payment is by card only. For private flats the university works with a housing agency.
| Item | In EUR | Approx. in rupees |
|---|---|---|
| Valdemāra 161, single roomFrom 1 July 2026 | €220–272per month | ≈ ₹23,320 – ₹28,832 |
| Valdemāra 161, double roomPer person, from 1 July 2026 | €152–181per month | ≈ ₹16,112 – ₹19,186 |
| Prima student hotel, single roomFrom 1 July 2026 | €291per month | ≈ ₹30,846 |
| Prima student hotel, double roomPer person, from 1 July 2026 | €202per month | ≈ ₹21,412 |
Campus and location
The school is a compact city-centre campus in Riga, now part of the University of Latvia, so students can use the wider university's services. Many master's programmes run in the evenings and at weekends.
- Campus at 161 Krišjāņa Valdemāra Street, Riga, which also houses a university student hotel.
- Finance Management Information Systems is taught partly at Riga Technical University's campus at 10 Zunda Krastmala.
- Double degrees with SBS Swiss Business School in International Finance and International Finance and Banking.
- Research focus on financial services and technology, sustainability, strategic resilience and cybersecurity.
- Erasmus+ exchange and internship options with partner schools in Europe.
Careers and graduate outcomes
The school was created by Latvia's central bank to train finance professionals, and its programmes keep a practical, professional focus: most degrees are professional bachelor's or master's with internships, and many master's classes are timed for working students. The school does not publish graduate employment figures. For work rights during and after study, see our Latvia guide.
| What | Figure | Source |
|---|
Studying in Latvia
Visa rules, work rights and living costs apply to every university in Latvia. Our country guide covers them in detail:
Other universities in Latvia
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FAQs
Is BA School of Business and Finance the same as UL FinTech Business School?
Yes. The school joined the University of Latvia and, from 1 September 2026, is called the University of Latvia FinTech Business School. Programmes are listed on the University of Latvia website.
How much are the fees for Indian students?
Listed non-EU fees with 2026/27 admissions range from €3,300 a year for the MBA (Business Administration) to €8,300 a year for the 1.5-year International Finance and Banking master's. Bachelor's degrees cost €4,100–€5,900 a year.
Do I need the SAT, GMAT or GRE?
Yes. Because your education is from outside the EU, bachelor's applicants need SAT 1200 and master's applicants need SAT 1200, GMAT 595 or GRE 320, taken in the last five years.
Can I apply for a master's with a 3-year Indian degree?
Only if it is a bachelor's with specialisation. The University of Latvia treats a 3-year BA/BSc (General) as two years of university study, so you would also need a master's. Check your degree with admissions before applying.
Will English-medium schooling in India replace IELTS?
No. The exemption only covers study in English in countries such as the UK, US, Canada, Australia, Ireland and New Zealand. Plan for IELTS 6.0 or PTE Academic 55.
Sources
- UL FinTech Business School: home page (opens in a new tab)
- UL FinTech Business School: history (opens in a new tab)
- UL FinTech Business School: bachelor's programmes (opens in a new tab)
- UL FinTech Business School: master's programmes (opens in a new tab)
- University of Latvia: Business Administration (EN), 2 years (opens in a new tab)
- University of Latvia: International Finance and Banking (EN), 2 years (opens in a new tab)
- University of Latvia: International Finance (EN) (opens in a new tab)
- University of Latvia: Finance Management Information Systems (EN) (opens in a new tab)
- University of Latvia: English language requirements (opens in a new tab)
- University of Latvia: country-specific requirements (India) (opens in a new tab)
- University of Latvia: accommodation (opens in a new tab)
- University of Latvia: fees, grants and scholarships (opens in a new tab)
Official website: ftbs.lu.lv/en (opens in a new tab)
Check the latest details