Banks, Financial Services, Good for Business, Latvia
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 08:06
Rietumu Banka posts EUR 15.12 mln in H1 profit
Client deposits during the same period grew by 22% up to 1.3
bn euros.
The financial indicators clearly show the efficiency of the
bank’s operations. Namely, the return on equity (ROE) was as high as 7.03%, and
the return on assets (ROA) was 1.81%.
The bank continues maintaining its extremely high liquidity
coverage ratio of 980.95% (with the regulatory minimum being 100%), while the
capital adequacy ratio exceeds the regulatory minimum more than twice, reaching
25.15%.
‘The six-month results reflect the strengthened growth trend
of Rietumu. New costumers continue co came to the bank, and every month
we open accounts for several dozens of Latvian companies, including both
promising developing enterprises and leaders in manufacturing, real estate
development, logistics and other fields of economy.
All of this confirms the correctness of the measures and
plans that our bank has consistently put into practice over the last one and a
half years, according to the new conditions and requirements implemented in
Latvian financial sector, taking into account the position of regulatory bodies
and international partners.
We still focus on perfecting our service and technologies,
we work on growing our credit portfolio and intend to reinforce our positions
on the Latvian market and even wider – on the European market, which we
consider to be our home market too,’ said Chairman of the Board of Rietumu
Bank Rolf Fuls.
The full version of our financial statement can be found on
our website.