Rietumu Bank Results for the Third Quarter
30-Nov-2018 / Financial Results Operation results of the Bank and Rietumu Group in the third quarter have been published.
All key financial indicators demonstrate stability and establish a solid foundation for high-quality services and business financing.
As of 30 September 2018, assets of the bank amount to EUR 1.6 billion, deposits of customers are EUR 1.1 billion, which corresponds to the second quarter results. Equity and reserves have grown up to EUR 468 million. Net profit of the bank during the nine months has reached EUR 29.7 million.
High efficiency characteristic for Rietumu Bank is continued – the return on assets (ROA) is 1.99%, the return on equity (ROE) is 8.51%. The bank secures the highest liquidity coverage ratio (LCR) of 1219.52% (the minimum ratio being 100%).
“During this quarter, the bank has completed its strategy correction measures started during the crisis period of the industry this spring. The work performed has been positively evaluated by experts, both in Latvia and abroad. Rietumu Bank has started its new stage of development – methodical long-term work.
Objective financial indicators show that the bank is in good shape today and has a solid basis. We have become more experienced and, hence, smarter and stronger. We provide our clients with good quality customised service and professional expertise on international financial markets. We are open to their new projects and ideas, many of which have been already accepted for practical work.
I am grateful to our clients and partners in Latvia and worldwide, the ones who have been with us since long ago and those who have just come, for their cooperation and support,” said Chairman of the Board of Rietumu Bank Rolf Fuls.
Complete Financial Statements, according to the results of the third quarter, are published on our website.
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