OREANDA-NEWS. January 16, 2009. Non-audited profit of Rietumu Bank for the year 2008 amounted to LVL 22.3 million (EUR 31.7 million), reported the press-centre of Rietumu Bank.

The Bank’s assets accounted for LVL 1.14 billion (EUR 1.6 billion). As compared to December 2007, the assets dwindled by 6.7%. During 2008, the assets volume was stable and increased by 1% compared to the audited data as of 30 June 2008.

The volume of attracted resources accounted for LVL 959 million (EUR 1.4 billion) having decreased by 12% compared to the end of 2007 and by 4% as compared to the middle of 2008.

Rietumu Bank’s loans portfolio lessened by 9% in 2008 and accounted for LVL 548 million (EUR 780 million) as of 31.12.2008. This logical decrease is caused by a very conservative credit policy employed by the Bank, especially considering the overall situation in financial markets and the economy in general.

The Bank’s equity and reserves topped LVL 133 million (EUR 190 million), showing 8.5% increase compared to December 2007 and 5.5% raise as compared to June 2008.

In the end of 2008, capital adequacy ratio reached 14.3%, while it equaled 12.9% as of the end of 2007 and 12.5% in June 2008.