OREANDA-NEWS. July 21, 2014. NORVIK BANKA completed the first six months of 2014 with profit of 650 thousand euros, exceeding the same result showed last year.

The first half of the year demonstrated positive trends in the balance growth and increase of return on assets in line with the valid annual budget. The assets of the Bank increased by 2.6%, but customers’ deposits increased by 1.4% during the first half of this year. Net income from commissions increased by 21.7% if compared to the same period in 2013.

Similarly, the Bank's major security indicators like liquidity and capital adequacy ratios were at high level in accordance with the asset growth trend. The capital adequacy ratio was 12.46%, while the liquidity ratio was 58.43% at the end of the reporting period.

In second quarter of 2014 active transformation of NORVIK BANKA was ongoing. After deep research of the markets where the Bank operates and taking geo-political and economic risks into account, the Board of Directors reviewed and updated its growth strategy for the coming years. At the same time the Board introduced a stricter model of corporate governance, and the organizational structure was tuned so as to ensure implementation of that new strategy.

As reported earlier, while keeping track of their plans and objectives of shareholders, NORVIK BANKA will continue universal banking business and become more friendly and closer to its customers and partners in 2014. The Bank continues implementation of a number of economically and socially significant projects in Latvia and Armenia this year, and the Bank plans to turn its attention to development of its business in the United Kingdom and Eastern Europe.