Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Monday, 24.11.2014, 19:39

Trasta komercbanka’s losses at LVL 2.7 mln in H1

Nina Kolyako, BC, Riga, 31.08.2010.Print version
The joint-stock Trasta komercbanka posted LVL 2.7 million loss in the first six months of 2010, according to the bank's financial statement published at the "NASDAQ OMC Riga" website. The provisions of Trasta komercbanka for bad loans within six months of 2010 increased by 14.4% or LVL 2.1 million, reaching LVL 16.9 million or 14.1% of the bank's total loan portfolio.

Compared with the first half of 2009, the provisions in 2010 have decreased more than twofold.

 

The bank intends to cover the first half-year losses by selling certain investments and in the course of its future activities. The bank hopes that its prudent dividend payment policy over the past several years will help cover the losses caused by economic crisis. Owing to the said policy the bank has accumulated retained earnings in the amount of LVL 19.7 million.

 

As of June 30, the bank's assets stood at LVL 211.4 million, which is LVL 55.6 million less than the closing reading of 2009, and LVL 13.5 million more compared to the same period of 2009.

 

As at the end of the reporting period the amount of attracted deposits reached LVL 166.8 million, but Trasta komercbanka’s loan portfolio was LVL 102.8 million.

 

While adhering to the principle of prudence in lending, the primary direction of the bank's lending policy remains supporting of business. Besides, the bank supports its clients experiencing economic difficulties by restructuring their credit arrangements. On June 30, the amount of loans issued to enterprises amounted to 81% of the total bank's loan portfolio, which increased by 4.7% during the reporting period.

 

Trasta komercbanka’s equity and reserves on June 30 amounted to LVL 30.7 million, whereas capital adequacy was 15.03%. The bank's liquidity as at the end of the reporting period was 51.87%.

 

During the first half of 2010, the number of customers of Trasta komercbanka increased by 5%.

 

The Trasta komercbanka group consists of two subsidiary companies: TKB Nekustamie Ipasumi and TKB Lizings. The amount of the group's assets at the reporting period was LVL 210.1 million.

 

Trasta komercbanka’s losses in 2009 reached LVL 1.97 million.






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