OREANDA-NEWS.  August 27, 2012. In the first half of the current year, Baltikums Bank has considerably increased its profitability while maintaining high levels of liquidity and capital adequacy. Our excellent financial performance has been assisted by increasing customer activity, commitment to the Bank’s financial stability roadmap and expanding activity in the fields of investment and personal capital management, reported the press-centre of Baltikums Bank.

Key financial indicators of Baltikums Bank as of 30 June 2012:

Net profit exceeding LVL 3.5 million (EUR 5 million), a year-on-year increase of 301%;

Income from the primary line of business before establishing reserves constituted LVL 9.1 million (EUR 12.9 million), or 77% higher than for the same period in 2011;

The Bank’s assets, including assets under management, as of the reporting date have increased by 22% to reach LVL 338.4 million (EUR 481.5 million), including a 32% increase in the amount of assets under management in the past six months (by LVL 338.4 million, or EUR 481.5 million);

Deposits totalled LVL 218.7 million (EUR 311,2 million), a 17% increase since the beginning of the year;

The volume of the Bank’s gross credit portfolio at the end of the half-year period constituted LVL 20.4 million (EUR 29 million);

The Bank’s capital adequacy as of 30 June 2012 was 20%, whereas its liquidity was 82.68%;

ROA at the end of June was 2.67%, with a ROE of 28.79%;

The capital and reserves of Baltikums Bank grew in the past six months to LVL 25.8 million (EUR 36.7 million), with a 16% increase from 31 December 2011.

Baltikums Bank CEO Dmitrijs Latisevs comments: “This year, thanks to the unprecedented support of our customers and partners, as well as the contribution of the Bank’s personnel, the Bank has shown a considerable increase in profits and other performance indicators. The results posted for the reporting period reiterate our drive to uphold the Bank’s financial stability at the highest level attainable, in line with our customers’ long-term needs of protecting and increasing capital. We are noticing constantly increasing demand for our Bank’s services and good potential for preserving this pace of growth for the rest of the year. We have created 14 new jobs this year to support our growth and intend to attract more than 20 highly qualified and professional private bankers and back-office specialists by the end of the year”.

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

Baltikums Bank is an independent private bank with a head office in Riga (Latvia) and a branch in Limassol (Cyprus). The Bank is owned by Latvian financial group BBG AS, whose largest shareholders (with both direct and indirect participation) are Aleksandrs Peskovs and Sergejs Peskovs and their family members, owning a total of 81.06% of the Bank’s equity. The Baltikums Bank group includes Baltikums Asset Management, IPAS; Baltikums International, SIA; Pils Pakalpojumi, SIA; the Baltikums AAS insurance company; and other companies. The Baltikums Bank group has representative offices in Almaty, Kyiv, Moscow and St. Petersburg (via BBG AS), and in Baku (represented via subsidiary Baltikums International).