Investor Relations - Private & Corporate Customers
Rietumu Is the Most Profitable Private Bank in Latvia
11-Mar-2014 / Notifications According to the data of the Association of Latvian Commercial Banks published in the local press, Rietumu Bank ranks second according to the received profit amount in 2013. Rietumu is the obvious leader in this respect among Latvian banks with local private capital.
According to the total amount of profit received last year, Rietumu is second only to the subsidiary of the Scandinavian financial group Swedbank, which is actively operating in the retail segment of the local market and services around a million clients.
Among the banks with Latvian capital, Rietumu, which traditionally focuses on servicing large private and corporate clients both locally and abroad, is the undoubted leader not only with regard to the yield but also to the amount of capital and reserves.
The unaudited profit of Rietumu Bank in 2013 is EUR 55 million. According to the data of the Association of Latvian Commercial Banks, Swedbank has earned EUR 113 million during the same period. The third is the private Latvian Bank ABLV (EUR 44 million) and the fourth is the subsidiary of the Scandinavian group SEB (EUR 24 million).
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