Banks, Financial Services, Good for Business, Latvia

Baltikums Bank indicates that the bank's main operational security indicators remain high: the bank's liquidity rate was 75.36 percent at the end of the first half of 2014, while the capital adequacy rate - 17.95 percent. The banks' return on equity (ROE) rate is 24 percent, while the return on assets (ROA) rate - 2.6 percent.

The total amount of the bank's assets reached EUR 684.2 million at the end of the first half of 2014.

"The first half of 2014 was affected by gradual stabilization and development of Latvia's business environment on one hand, and the exacerbation of the geo-political tension on the other," CEO of Baltikums Bank Dmitrijs Latisevs says.

He admitted that the increasing geo-political risks have significantly affected the finance market since the fall of 2013, therefore, the bank's ability to maintain stable deposit indicators can be evaluated as a positive achievement.

During the first half of 2014, as compared to the respective period of 2013, the bank increased its lending volume by 39 percent, 58 percent of which were invested in Latvia's economy by funding the establishment of several production units in various cities of Latvia. Thus, the bank is contributing to Latvia's product export and the creation of new jobs, Latisevs indicates.

In order to strengthen cooperation with business owners in the Baltic States, Baltikums Bank has opened two subsidiaries - in Tallinn and Vilnius.