OREANDA-NEWS. September 06, 2010. The international auditor company KPMG Baltic has performed audit of concern AS “Akciju komercbanka “Baltikums”” (Baltikums Banka), reported the press-centre Baltikums Banka.

In the first half of 2010, Baltikums Banka continued its stable growth, which is proved by key financial indicators and improvement of its position in the chosen niches.

Conservative approach to risk management, persistency in the strategic objectives, and establishment of long-term relations with customers – these are the three pillars of success of the dynamically growing and modern Baltikums Banka.

On the tenth year of its operations, the bank successfully functions in Riga, Limassol, Kyiv, and Almaty, as well as has representation in Russia. Baltikums Banka and its foreign branches employ an international team of 180 professionals.

Financial results
The audited profit of Baltikums Banka for the first half of the year amounted to LVL 0.71 million. As of 30 June this year, the Bank’s assets made up LVL 132.98 million. At the end of June, Baltikums Banka issued LVL 27.16 million in loans and in mortgage loans – just LVL 13 thousand. The amount of attracted deposits was LVL 107.05 million by the end of June.

Such results became possible thanks to the Bank’s well-thought-out and precise strategy and its professional team. Despite a decrease in the assets resulting from a drop in the bank customers’ turnover Baltikums Banka is one of the Latvian banks that continue operating with profit, the number of opened customer accounts keeps growing, efficiency of operations increases, funds are invested in information technologies and expansion of the Bank’s international branch as competition drops during the crisis.

Baltikums Banka still maintains very high liquidity and balance structure indicators and the high capital adequacy significantly exceeds that required by supervisory authorities.

Major achievements
Currently, the Bank focuses on three basic trends of its operations: Private Banking, Corporate Banking and Wealth Management.

Under the concept Relations That Work, Baltikums Banka set an objective to establish such relations with its customers that would allow most prompt and clear execution of the customers’ orders. In the first half of the year, Baltikums Banka updated the enhanced Internet Bank version that is one of the crucial elements in relations among the customer and the Bank. Having improved the design and functionality of the Internet Bank the Bank offered a solution that is more convenient, personified, and adjusted to needs of the customers.

This year, Baltikums Banka has successfully redeemed the third issue bonds. Earlier the Bank successfully redeemed its first and second issues, as well as the first issue of credit-linked notes in Latvia.

The investors who purchased the Bank’s bonds receive stable regular income from them. The bank’s bonds have stable business prospects in future improving the Bank’s competitive advantages in the chosen niches of Corporate Banking and Private Banking. The performance results achieved by Baltikums Banka shows that the Bank has been successfully implementing its potential in rendering its services to companies and wealthy individuals.

In the future, the Bank might consider more bond issues depending on the situation in the financial markets and customer demand for financing of promising projects.

German Commerzbank AG highly rated quality of commercial payments and transfers among financial institutions executed by Baltikums Banka and awarded it with the STP Award 2009 – Excellent Quality in the Delivery of Commercial Payments and Financial Institution Transfers. The award proves the professionalism of the Bank employees and quality of the banking technologies that ensure automatic execution of payments.

Baltikums Banka constantly improves its business model introducing latest technologies and methodology. However, our philosophy and business approach remain unchanged. Baltikums Banka is an independent private bank and a family business. The Bank has Latvian origin and its objective is to join leading independent private banks in the European Union by providing modern and sought after banking products, services and solutions aimed at facilitating business and at keeping and growing wealth of our customers.

Baltikums Banka is famous for its consequent approach to establishing and maintaining mutually beneficial relations with its customers. Paying close attention to research and new developments, we create products, services, and solutions that are sought after, first of all, because they are created in our customers’ interests and represent our response to the customers’ needs and desires. Baltikums Banka was established as a commercial bank and its entrepreneur’s spirit is close and familiar to customers: private entrepreneurs, high net worth individuals, and professional investors.

Besides, the Bank’s objective is not only provide its customers with professional and quality service but also to join forces in order to create environment for business, capital, assets, and risks management, to give our customers, in addition to financial benefits, more stability and confidence regarding their, their families’, and their partners’ future. Here we see our responsibility as private bankers.

Our values remain unchanged as before: independence and objective approach, security, responsibility, and comprehensive protection of our customer’s interests. We are grateful to all our customers for cooperation and trust in these complicated times and look forward to continuing our successful cooperation in the future.