Rietumu Bank Results for the First Quarter
29-May-2019 / Financial Results The Financial Statement of the bank and Rietumu Group for the first quarter of 2019 has been published.
In accordance with the statement, net profit of the bank amounts to EUR 7.4 million and that of Rietumu Group is EUR 10 million.
Assets of the bank, in comparison with the end of 2018, have grown by 9% up to EUR 1.7 billion, the volume of deposits of clients has increased to EUR 1.1 billion respectively.
The bank continues operating with high efficiency. Return on equity (ROE) is 6.25%, return on assets (ROA) is 1.79%. A very high level of liquidity coverage ratio is continuously supported – as of the end of the first quarter, it was 1737.13% (the required minimum standard being 100%).
“The first quarter shows the steady growth of all key indicators of Rietumu, after necessary changes in the bank’s business model correction in accordance with the latest regulators requirements have been completed. The main region of our business development remains the Baltics and other EU countries. We continue attracting new clients, both corporate and private, are actively working with new perspective projects in the field of lending, at the same time maintaining the invariably high quality of credit portfolio. These objective facts give us good reasons to expect that this positive tendency will continue in the future,” said Chairman of the Board of Rietumu Bank Rolf Fuls.
The full financial statement can be found on our website .
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