OREANDA-NEWS. April 01, 2010.  The Ordinary Shareholders’ meeting of NORVIK BANK confirmed NORVIK Group’s profit for the year 2009.

NORVIK Group demonstrated its business sustainability and had another profitable year. The good results of the year 2009 are reflected in the annual report that was approved by the Bank’s auditors, the company Deloitte Audits Latvia.

NORVIK Group’s consolidated annual net profit was LVL 4.2 million (including NORVIK BANK’s annual profit of LVL 3.2 million).

NORVIK Group’s total assets amounted at LVL 468 million at end 2009 (including NORVIK BANK’s assets that reached LVL 466 million).

In 2009 the Bank was increasingly focused on its customer deposit base development by widening scope of offered products and providing excellent service quality. Customer deposits showed strong stability during the whole year and increased to LVL 393 million at the year end, that is by LVL 42 million more than at end 2008.

In 2009 the NORVIK BANK fully repaid its wholesale borrowings.

The full audited annual report for the year 2009, as well as the Report of the Council and the Management Board, can be found at the web site of the bank in the section Finance indicators.