Banks, Financial Services, Latvia
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Wednesday, 24.04.2024, 19:47
Rietumu Banka earns EUR 16.89 mln profit in Q1
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The bank’s profit has decreased from the first quarter of 2015 when it showed a profit of 19.489 million.
Rietumu Banka’s assets stood at EUR 3.598 billion at the end of the first quarter of 2016.
Return on Equity (ROE) was 15.39% at the end of the first quarter of 2016.
Rietumu Banka is the third largest bank in Latvia by assets at the end of 2015. It specializes in serving large corporate clients and wealthy individuals. The bank operates in the Baltic States, CIS, Europe and other regions.
The bank's biggest owners are Maltese company Boswell (International) Consulting Limited (33.11%), Esterkin Family Investments (33.12%) and Suharenko Family Investments (17.34%).
In early May, the European Central Bank (ECB) announced it will carry out an in-depth analysis of four banks that it may start to supervise directly, and Rietumu Banka is one of those banks. The results of the assessment were expected in November.
For now the ECB in cooperation with the national regulator supervises Swedbank, ABLV Bank and SEB Banka.
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