Banks, Deposits, Financial Services, Latvia

The amount of deposits at ABLV Bank rose 5.8% or LVL 108.4 million to LVL 1.98 billion.

The bank's operating income before allowances for credit losses totaled LVL 17.6 million in the first three months of 2013, a 15.8% increase on the same period in 2012.

As of March 31, 2013, the bank's assets equaled LVL 2.33 billion, 8.7% more than at the beginning of the year.

ABLV Bank’s loan portfolio amounted to LVL 524.9 million, capital and reserves – LVL 108.2 million.

The bank's capital adequacy ratio was 13.98%, liquidity equaled 61%.

ROE reached 31.03%, ROA – 1.46%.

The amount of issued debt securities reached LVL 173.2 million.

ABLV Bank continued investing in securities. The bank's securities portfolio totaled LVL 975.1 million, as of March 31, 2013.

The bank’s securities portfolio is mostly composed of fixed-income debt securities, and 71.4% of the portfolio is constituted by securities having credit ratings AA- and higher. In terms of major countries, securities are allocated as follows: the Unidet States – 22.9%, Russia – 14.7%, Canada – 14.4%, Germany – 11.4%, Sweden – 7.7%, Latvia – 5.6%, the Netherlands – 4%, Norway – 2.1%, Great Britain – 1.5%. 7.4% is constituted by securities issued by international institutions – the European Commission, the European Bank for Reconstruction and Development, etc. In the reporting period, the annual yield of the securities portfolio amounted to 1.84%.

ABLV Bank predicts on the basis of first-quarter results that the bank will achieve its objectives for 2013.