OREANDA-NEWS. March 29, 2013. Net audited profit of Rietumu Bank for year 2012 accounted for 20.3m lats (29m euro) thus two times exceeding the corresponding result for the year 2011. The volume of Bank’s assets increased by 18% to 1.6bn lats (2.3bn euro).

On Friday Rietumu shareholders’ meeting has taken place in Riga, and Consolidated and Bank Financial Statements, as well as Independent Auditor’s – KMPG Baltics – Report for the year 2012 have been approved.

According to the report, in year 2012 all the main balance sheet indicators of the Bank showed a considerable increase. The volume of customers’ deposits grew by 17% to 1.4bn lats (2.1bn euro), credit portfolio – by 16% to 705m lats (1bn euro).

Equity and reserves of the Bank account to 158m lats (225m euro). Capital Adequacy Ratio – 19.51%.

„The results of the past year is a strong evidence of success that is based on sound long-term strategy and serious everyday work. We strive to support our customers and their business today and implement the innovations of tomorrow. In addition to that we confine rational conservatism and risk control ”, – says President of Rietumu Bank Alexander Pankov.

At the meeting of shareholders it was decided to disburse in dividends 5.1m lats (7.3m euro). The rest of net profit will be left at the Bank’s disposal.

The Shareholders’ meeting has also approved KPMG Baltics as the Bank’s auditor for 2013.