01.04.2016, 08:38
BIB: On the Audited Financial Results of Baltic International Bank in 2015
OREANDA-NEWS. A general meeting of the shareholders of Baltic International Bank AS was held on 30th March, where the audited financial report of the Bank for 2015 was approved.
In 2015 the attention of Baltic International Bank was directed, to a significant degree, not only to facilitating the profitability from financial activities but also to risk management and to the further development of a sustainable business model of the Bank.
According to the audited financial report of Baltic International Bank, thanks to the intensive work during the entire year, the operating income of Baltic International Bank over the year increased by 35.6% (Group index: 34.6%) and reached 19.78 (19.81) million euros. Income from asset management increased by 65%, reaching 1.14 million euros, while income from account servicing, including from ensuring the execution of transactions, increased by 25.6%, reaching 4.95 million euros. The rate of non-interest income in the operating income amounted to 79.9% (79.7%), which is to be regarded as a positive achievement.
Considering the current situation on the global markets, in 2015 Baltic International Bank continued building up reserves for potentially toxic assets (mainly for credit) by setting up special reserves of 5.7 million euros (5.6 million euros) in 2015. The amount of the reserves built up as well as the penalty imposed by the Financial and Capital Market Commission for the deficiencies in the internal control system of the Bank in previous years affected the financial performance indicators of the Bank as well. Thus, despite the significant increase in the operating income achieved in 2015, the losses of the Bank amounted to 1.797 million euros in 2015.
The liquidity of the Bank remained stable in 2015; at the end of December, the liquidity ratio reached 91.68, which is significantly higher than the minimum internal ratio of 60%. In turn, the liquidity coverage ratio at the end of the year was at a record high, reaching 531.11% (530.80%).
Baltic International Bank continued to maintain an appropriate level of capital adequacy: at the end of 2015 Tier I capital ratio was 12.41% (12.16%), while the total capital adequacy ratio was 17.38% (17.15%).
In 2015 the attention of Baltic International Bank was directed, to a significant degree, not only to facilitating the profitability from financial activities but also to risk management and to the further development of a sustainable business model of the Bank.
According to the audited financial report of Baltic International Bank, thanks to the intensive work during the entire year, the operating income of Baltic International Bank over the year increased by 35.6% (Group index: 34.6%) and reached 19.78 (19.81) million euros. Income from asset management increased by 65%, reaching 1.14 million euros, while income from account servicing, including from ensuring the execution of transactions, increased by 25.6%, reaching 4.95 million euros. The rate of non-interest income in the operating income amounted to 79.9% (79.7%), which is to be regarded as a positive achievement.
Considering the current situation on the global markets, in 2015 Baltic International Bank continued building up reserves for potentially toxic assets (mainly for credit) by setting up special reserves of 5.7 million euros (5.6 million euros) in 2015. The amount of the reserves built up as well as the penalty imposed by the Financial and Capital Market Commission for the deficiencies in the internal control system of the Bank in previous years affected the financial performance indicators of the Bank as well. Thus, despite the significant increase in the operating income achieved in 2015, the losses of the Bank amounted to 1.797 million euros in 2015.
The liquidity of the Bank remained stable in 2015; at the end of December, the liquidity ratio reached 91.68, which is significantly higher than the minimum internal ratio of 60%. In turn, the liquidity coverage ratio at the end of the year was at a record high, reaching 531.11% (530.80%).
Baltic International Bank continued to maintain an appropriate level of capital adequacy: at the end of 2015 Tier I capital ratio was 12.41% (12.16%), while the total capital adequacy ratio was 17.38% (17.15%).
Комментарии