Rietumu Bank Operating Performance in the Third Quarter

30 November 2022, 15:38

The Q3 2022 financial statement of Rietumu Bank and Rietumu Group has been published.

The bank net profit on 30.09.2022 reached 15.4 million euros, assets were 1.6 billion euros, customer deposits 1 billion euros, capital and reserves 359 million euros.

Bank efficiency indicators remain on the high level. Return on equity (ROE) is 6.03%, return on assets (ROA) 1.34%, capital adequacy ratio 26.12%, liquidity coverage ratio 290.83% (the standard set by the regulator is 100%).

During the current year Rietumu continued its strategy focusing on services for major enterprises with private and state capital, as well as financing and supporting ambitious business projects in Latvia and the Baltics. The bank loan portfolio compared with Q2 results increased by 15 million euros (by 2.3.%) and by the end of September reached 657 million euros.

Significant work on anti-money laundering procedures further development as well as ESG (Environmental, social, and governance) essential guidelines implementation in corporate management and such spheres of high importance as social and environmental responsibility has been continued.

Jelena Buraja, Chairman of the Board of Rietumu Bank, made a report at ACAMS (Association of Certified Anti-Money Laundering Specialists) forum in New York dedicated to preventing financial crime risks. In her speech Jelena Buraja shared Rietumu Bank’s experience in this field, gained during recent national financial sector transformation period. Jelena Buraja also held a number of meetings with representatives of US government and banking structures, dedicated to further development of Rietumu Bank’s relations with American partners.

Commenting on the third quarter results, Jelena Buraja noted: «Although global geopolitical developments remain challenging, we manage to accomplish our goals successfully. The bank continues to open accounts for new European clients, and we are glad to see that most of our customers have adapted to current reality. Rietumu shows good financial performance, implements the important ESG principles, and our achievements in anti-money laundering sphere have been recognized by international experts. All of the above indicates that Rietumu is in a phase of sustainable development that is going to continue».

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

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