OREANDA-NEWS. April 04, 2011. Rietumu shareholders’ meeting took place in Riga, where Consolidated and Bank Financial Statements and Independent Auditor’s – KMPG Baltics – Report for the year 2010 were approved, reported the press-centre of Rietumu.

According to the report, net profit of Rietumu Bank for the year 2010 accounted for LVL 3.2 million (EUR 4.6 million), profit of the Rietumu Group  – LVL 6.8 million (EUR 9.7 million).

The volume of Rietumu Bank’s assets on 31.12.2010 accounted for LVL 1.1 billion (EUR 1.6 billion), credit portfolio – LVL 536 million (EUR 763 million), the volume of customers’ deposits – LVL 971 million (EUR 1.4 billion), equity and reserves – LVL 138 million (EUR 196 million). Capital Adequacy Ratio – 17.8%.

“We are satisfied with the results of the year 2010. Despite the consequences of the economic crisis, which Latvia only starts to overcome now, Rietumu continued to operate successfully, develop and diversify its activities”, – says the president of Rietumu Alexander Pankov.

The Shareholders’ meeting has taken the decision to leave the net profit undivided and for JSC Rietumu Bank’s disposal.

The Shareholders’ meeting has also approved KPMG Baltics as the Bank’s auditor for 2011.

The Annual report of Rietumu and Consolidated Annual Report of the Group for the year 2010 is available on our website http://www.rietumu.com/bank-finance.