The Financial Statement of the bank and Rietumu Group for the first quarter of 2021 has been published.
According to it, in the first three months of this year, the Bank received EUR 5.6 million in net profit and the Group's profit reached EUR 8.5 million.
The main financial performance indicators of Rietumu Bank continue to grow steadily and actively in 2021. Thus, the volume of assets has increased by 7% compared to 31 December 2020 and has reached EUR 1.6 billion, customer deposits have increased by 10% to EUR 1.2 billion. At the same time, the loan portfolio has increased by 8% to EUR 654 million, while capital and reserves have increased by 1.4% to EUR 329 million.
Return on equity (ROE) is 6.85% in the first quarter, return on assets (ROA) is 1.47%. The liquidity coverage ratio (LCR) is still many times higher than the standard set by the regulator (100%) and amounts to 606.04%.
“The current results are a confirmation to the stability of the positive trends that have been consolidated in the business of Rietumu Bank in 2019-2020. The timely taken strategic decisions have provided a good basis for effective operation and development in the conditions of a specific crisis caused by the pandemic.
I would like to make a pointed reference to the successful work of Rietumu Bank in the field of lending, as well as the strengthening of the client base and the growth of business activity of clients in general. We have been observing these positive processes over the entire recent period. The bank continues to consider new projects of its clients, taking into account the current opportunities for the development of their businesses and focused on the post-Covid period,” commented Rolf Fuls, Chairman of the Board of Rietumu Bank, on the results of the first quarter.
The full version of the Financial Statement can be found on our website