The Q2 2021 financial statement of Rietumu Bank and Rietumu Group has been published.
According to the statement, the bank’s net profit during the first six months of the year is 17.1 million euros, showing 76% growth as compared with 2020 year first half results. Profit of Rietumu Group increased accordingly almost thrice, reaching 19.1 million euros.
The main financial positions of Rietumu Bank continued showing positive dynamics in Q2 as well as it has been observed in Q1. Since the beginning of the year the bank assets increased by 7% and amounted 1.6 billion euros, customer deposits grew by 8%, reaching 1.2 billion euros. Meanwhile, loan portfolio is 614 million euros and shareholder’s equity – 340 million euros.
The return on equity (ROE) is 10.30%, return on assets (ROA) is 2.19%, liquidity coverage ratio (LCR) is 644.92% (the minimum standard ratio being 100%), – thus all the indicators remaining on a high level.
Chairperson of the Board of Rietumu Bank Jelena Buraja, while commenting on the results, noted: “We have been observing positive trends and increasing activity in businesses of our customers since the beginning of the year. Extent of their operations grow consequently as well as their plans for the post-covid future.
For Rietumu Bank the past period has coincided with
finishing of readjustments within general national banking business
restructuring. The bank is ready to start a new phase of its development and we
are actively working on new plans and actual projects. We believe global
economic environment is turning on a positive scenario and encourages optimism
towards the foreseeable future”.
The full version of the Financial Statement can be found on our website.
Jelena Buraja has been appointed the Chairman of the Board of JSC Rietumu Bank, having previously served as the Member of the Board of Rietumu.