Banks, Financial Services, Latvia

The bank's profit in H1 2014 amounted to EUR 32.9 million, and profit of the group – to EUR 33.1 million. Whereas in H1 2013 the bank's profit was EUR 21.6 million.

During the first half of 2014, the bank and other companies of ABLV Group continued to grow, due to consistent implementation of the group’s development strategy. Although the situation in several target markets was complex and strained, the group managed to achieve the planned results due to its thoroughly chosen business model, risk management, and cautious policy, according to the bank's statement.

The bank's operating income before allowances for credit losses totaled EUR 59.6 million. Compared with H1 2013, the operating income has increased by 13.6%.

The amount of the customers' deposits was EUR 2.98 billion at the end of the reporting period.

The amount of the bank's assets totaled EUR 3.58 billion. Since the beginning of the year, the amount of assets has grown by 7.9%, the total assets increasing by EUR 263.0 million.

The bank's loan portfolio was EUR 743.8 million at the end of June.

The bank's capital and reserves amounted to EUR 204.4 million. The bank's capital adequacy ratio was 16.82%, whereas liquidity equaled 81.01%. ROE reached 35.41%, and ROA – 1.87%.

ABLV Group consists of ABLV Bank, ABLV Bank Luxembourg', IBAS ABLV Capital Markets, IPAS ABLV Asset Management, KS Pillar Holding Company, AS ABLV Consulting Services, SIA ABLV Corporate Services, SIA New Hanza City and other enterprises.