OREANDA-NEWS. March 05, 2011. AS “Akciju komercbanka “Baltikums”” (hereinafter – Baltikums Bank) has summarised its preliminary financial results for the year 2010. The Bank proved the stability of its development again and finished its 10th financial year with a profit. Undistributed profit of the Bank for the year 2010 was LVL 139 thousand (EUR 198 thousand), reported the press-centre of Baltikums Bank.

During the year 2010, the Bank made significant investments in improving the quality of its customer service, improving of business processes, development and training of personnel, and widening of the offering of products and services with the added value. As a result of these efforts, the Bank managed to increase its gross income by 2.4% compared to the previous year.

Total assets of the Bank increased by 12% in 2010 to LVL 125 million (EUR 178 million). Customer deposits increased by 18.5% in 2010 to LVL 103 million (EUR 147 million). Growing confidence of customers in the Bank is confirmed by the increase in assets under management that grew six fold to LVL 36 million (EUR 51 million) as of 31 December, 2010.

In the area of customer financing, the Bank adhered to a balanced and conservative approach and, as a result, its loan portfolio decreased from LVL 33 million (EUR 48 million) to LVL 27 million (EUR 39 million) in 2010. The Bank plans to expand its customer financing activities in 2011, particularly in the area of short-term financing, taking into account the activation of international operations of its customers.

As of 31 December 2010, the Bank’s capital adequacy ratio was 15.40% (FCMC requirement 8%), and the liquidity ratio was 71.38% (FCMC requirement 30%).

Baltikums Bank is an international private bank with headquarters in Riga (Latvia) and representative offices in 6 countries. Our goal is to provide top value and quality services for business development and preservation and growth of welfare of our customers. Thanks to our customers, it is possible to ensure flourishing of business contributing to growth of welfare of our employees and shareholders and the countries where we live and work.