OREANDA-NEWS. January 25, 2007. Unaudited profit of Rietumu Bank in 2007 amounted to LVL 34,8 m (EUR 49,6 m), which exceeds profit of the year 2006 by 18% and represents the largest profit figure in the Bank’s history, reported the press-centre of Rietumu Bank.

The Bank’s assets increased by 32% and exceeded LVL 1,2 bn (EUR 1,7 bn). 

Notably that the credit portfolio grew considerably in 2007 – by 61% – and on 31.12.07 exceeded LVL 600 m (EUR 855 m).

The total volume of deposits also grew dynamically and accounted for LVL 902 m (EUR 1,3 m), representing a 36% increase comparing to the results of 2006. 

Shareholder equity reached LVL 122 m (EUR 174 m), showing the annual growth of 27%.

The KPMG cooperative is undertaking audit of the Rietumu Bank’s financial results of the year 2007.