Banks, Financial Services, Latvia

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Baltic International Bank in Latvia earns EUR 353,000 in 2014

BC, Riga, 06.03.2015.Print version
The Latvian bank Baltic International Bank earned EUR 353,000 last year, while the Group's profit was EUR 271,000, informs LETA, according to the bank's unaudited data.

In 2013, the bank's profit was EUR 29,000, while the Group suffered losses in the amount of EUR 315,000.

 

In 2014, Baltic International Bank assets grew 58.3%, as compared to the end of 2013. At the end of last year, the bank's assets amounted to EUR 533.03 million. The Group's assets at the end of 2014 amounted to EUR 533.35 million, according to the bank's quarterly report.

 

The bank's return on equity in 2014 was 1.06%, return on assets – 0.08%.

 

The bank's liquidity ratio was 87.16%.

 

Baltic International Bank financial report says that in 2014, the bank increased the number of clients, while attraction of new clients enabled it to increase its resource base. By the end of 2014, the amount of deposits increased 62.8% or EUR 172.96 million from December 2013. At the end of 2014, the amount of deposits was EUR 448.25 million, accounting for 89.73% of the bank's total liabilities. Deposits were the bank's main funding source. In 12 months, the total amount of client funds increased 40.49%, reaching EUR 683.05 million.

 

The bank offered its clients to co-finance food production and real estate projects in Latvia and the United Kingdom. The amount of investments in these projects reached EUR 3.15 million.

 

The bank's credit portfolio at the end of 2014 stood at EUR 99.62 million, which does not exceed 20% of the bank's total assets.






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