Investor Relations - Private & Corporate Customers
Profit of Rietumu Bank in 2014 is EUR 72 million
06-Mar-2015, 16:00 / Notifications Unaudited net profit of Rietumu Bank for the year 2014, including dividends paid to shareholders for the first half year, is EUR 72 million. This is 35% more than a year ago.
The bank’s assets are valued at EUR 3.5 billion, which exceeds the corresponding figure as of 31.12.2013 by 19%. The volume of deposits of bank clients accordingly grew by 19% as well, constituting EUR 3.1 billion.
The equity and the reserves are estimated at EUR 324 million (+ 19%). The return on equity is 22.75%, the return on assets is 2.29%, the capital adequacy is 17.48%.
“The achieved results show the efficiency of our strategy. We flexibly react to changes, take into account new tendencies, and this secures development and stability,” says the President of Rietumu Bank Alexander Pankov. “Last year was very important for the further growth of the bank. We have considerably strengthened our technological base and have continued operating in the prospective segment of e-commerce. We have also laid the foundation for establishing a new line of e-commerce servicing and the introduction of innovative card services.”
In 2014 Rietumu Bank already held the third international conference on e-commerce eCom21 which is the biggest in Eastern Europe. The bank has completed preparations for the launching of its own processing centre, which will become the most advanced in the Baltic region. A new application for iPad and iPhone has also been released, allowing clients to control their funds conveniently and safely.
For the fourth time, the bank received the prestigious SPEAR’S Russia Wealth Management Award in the nomination “Best Private Bank in the CIS and Baltic States Providing Banking Services and Wealth Management for Russian Clients”.
Last year Rietumu Bank held a limited issue of preference stocks intended for clients and partners of the bank. Holders of the preference stocks participate in the distribution of dividends alongside other shareholders. According to the results of the first half year, shareholders of Rietumu Bank, including holders of the preference stocks, were paid dividends in the amount of EUR 18.5 million.
In late March a meeting of Rietumu Bank shareholders will be held where a decision will be taken on the payment of dividends for the second half of 2014.
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