Rietumu Bank operating performance in the first six months of the year

The Q2 2019 financial statement of the bank and Rietumu Group has been published. According to the statement, the bank’s net profit during the first six months of this year was 15.1 million euros.

The bank’s assets were 1.7 billion euros (a six-month increase of 10%).

Client deposits during the same period grew by 22% up to 1.3 billion euros.

The financial indicators clearly show the efficiency of the bank’s operations. Namely, the return on equity (ROE) was as high as 7.03%, and the return on assets (ROA) was 1.81%.

The bank continues maintaining its extremely high liquidity coverage ratio of 980.95% (with the regulatory minimum being 100%), while the capital adequacy ratio exceeds the regulatory minimum more than twice, reaching 25.15%.

‘The six-month results reflect the strengthened growth trend of Rietumu. New costumers continue co came to the bank, and every month we open accounts for several dozens of Latvian companies, including both promising developing enterprises and leaders in manufacturing, real estate development, logistics and other fields of economy.

All of this confirms the correctness of the measures and plans that our bank has consistently put into practice over the last one and a half years, according to the new conditions and requirements implemented in Latvian financial sector, taking into account the position of regulatory bodies and international partners.

We still focus on perfecting our service and technologies, we work on growing our credit portfolio and intend to reinforce our positions on the Latvian market and even wider – on the European market, which we consider to be our home market too,’
said Chairman of the Board of Rietumu Bank Rolf Fuls.

The full version of our financial statement can be found on the website.