Rietumu Banka’s Operating Performance in Year 2023

28 February 2024, 15:14

The unaudited financial statement of Rietumu Banka and Rietumu Group for January-December 2023 has been published.

According to the statement, in 2023 all key performance indicators of the Bank have increased.

Compared to the audited report of 2022, Rietumu Banka's assets increased by 8.3% (by 116 million euros) and exceeded 1.5 billion euros. The amount of customer deposits increased by 6.3% (by 60.4 million euros) to 1 billion euros. Bank's capital and reserves as of 31.12.2023 was 360 million euros (increased by 7.9%).

In 2023, Rietumu Banka issued new loans for the total amount of 214 million euros, the Bank's loan portfolio as of 31.12.2023 exceeded 656 million euros.

Evaluating the results of 2023, the Chairman of the Executive Board of Rietumu Banka Jeļena Buraja emphasized: "Financial data clearly show that Rietumu Banka is growing steadily and continues to expand cooperation with Latvian and European companies. We have strengthened our position among the leading credit institutions operating in our country and are confidently the largest locally owned bank.

Rietumu Banka continues to finance the implementation of ambitious projects in such areas as green energy, transport and logistics, development of commercial and residential real estate projects, innovative agriculture, local production, trade, financial services, that are essential for the growth of the Latvian economy. This year we will consistently expand our activities based on the chosen strategy, increasing lending volumes and offering our clients new modern services".

Rietumu Banka's profit after tax in 2023 was 12.4 million euros.

The Bank’s profitability ratios are high at a stable level: return on equity (ROE) 4.68%, return on assets (ROA) 1.19%. The Bank's capital adequacy ratio, which reflects the company's financial stability, is 24.42%, liquidity coverage ratio is 398.10%, several times exceeding the requirement set by the regulator (100%).

The financial statement is published on our website.

Rietumu Banka is financing the renovation of the historical building in the centre of Riga

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29 January 2024, 14:46 Financial Results