OREANDA-NEWS. September 04, 2012. According to the audited figures, Bank’s assets grew by 31 percent over the first half-year and totalled 303.8 million lats as at 30 June 2012. The growth was fostered by a sharp increase in Bank’s deposit base (up 17.6 percent). During the first half-year, customer deposits reached 230 million lats.  Customer deposits showed a 50-plus percent increase on a year-over-year-basis, reported the press-centre of BIB.

“The trend-like growth of customer deposits amidst uncertainty prevailing in the global stock markets certainly proves that the deposits are still regarded as time-tested savings vehicles. Additional capital-raising spurred the growth of Bank’s loan portfolio. In the area of trade financing, customer activity has significantly intensified and is indicative of successfully developing businesses,” says the Deputy Chairperson of the Board Natalya Tkachenko.

Bank’s loan portfolio increased by 13.8 million lats since the beginning of the year and reached 73.5 million lats by June-end of 2012.  

Bank’s operating income for the first half-year of 2012 totals 4.79 million lats. Bank earned a net profit of 442 thousand lats. Bank’s liquidity ratio remains unchangeably high: 86.65 percent.  Bank’s capital adequacy ratio was 16.14 percent as at 30 June 2012. 

In the first half-year of 2012, Bank placed a specific focus on innovative technology solutions designed to bring its clients more comfort and ensure security while banking online. Bank rolled out DigiPass for Mobile application to generate one-time passwords (used to authenticate the user’s identity), enable authorised access to the Internet Banking and provide the e-signature functionality.  

In June 2012, Bank opened a summer-season representative office in Jurmala (a resort town in Latvia) to give its clients extra convenience and consult them on Bank-offered services. 

In the second half-year, Bank is planning to expend its product assortment and broaden its range of payment cards by adding Visa Infinite (the most exclusive proposition by Visa  and a unique White Card. Thus, Bank will become the first bank in the Baltic Region to offer its clients payment cards positioned at the very pinnacle of MasterCard’s and VISA’s card portfolio.