The 2014 Annual Report of Rietumu Bank Has Been Approved
31-Mar-2015 / Financial Results The general meeting of shareholders of Rietumu Bank has approved the bank’s annual report for 2014, as well as the report of the auditor – KPMG Baltics.
The report approved by the shareholders includes the financial results of the bank and consolidated results of Rietumu Group operation in 2014.
In accordance with the report, in 2014 the key figures of Rietumu financial performance have increased.
In 2014 net audited profit of the Group grew by 19% and was EUR 74.1 million, including the bank’s profit of EUR 71.5 million.
As of 31.12.2014, Rietumu assets were EUR 3.5 billion, the deposits of its clients being EUR 3.1 billion and reserves EUR 323 million. The capital adequacy ratio was 18.91%.
“Last year Rietumu retained its leadership in profitability among private banks of Latvia. The achieved results have provided a good return on investment for the bank’s shareholders, including for the holders of preference stocks. We continue to be committed to the principles of our strategy: efficiency, development of promising trends and strict control of the risks. Therefore, we remain an invariably reliable and beneficial partner for our clients,” says the Rietumu Bank President Alexander Pankov.
The meeting of shareholders approved KPMG Baltics as the auditor for 2015.
The financial statement of Rietumu Bank for 2014 is published on our website.
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