Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Thursday, 18.10.2018, 02:00

Rietumu Bank’s Q1 financial report has been published

BC, Riga, 31.05.2018.Print version
The first quarter financial report in 2018 of the Rietumu Bank and Group has been published. According to the report, the Bank's net profit amounted to 15.7 million euros, which is slightly higher than for the same period last year.

The bank's assets have decreased by 28% since the beginning of the year, which is due to active work on the implementation of decision taken in early spring to stop cooperation with the clients of "high risk" group. 

Equity and reserves as of 31 March 2018 amounted to 467 million euros (+ 2% compared to the data as of 31 December 2017). The bank continues to provide the highest liquidity coverage ratio of 1010.73% (minimum normative – 100%). 

"The results of the first quarter show that we manage to effectively implement the necessary changes while maintaining the position of one of the most profitable banks in Latvia. We are continuing our policy of modernizing the strategy. The bank opens accounts to new corporate clients, continues to receive and consider new promising projects," says Rolf Fuls, the Chairman of the Board of Rietumu Bank. 

Complete version of the report is available on the website. 






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