Our focus is to continue to manage through the current economic cycle by prudent risk management and continuing to ensure a safe and stable company, which includes tight control and strong capital adequacy ratio and liquidity position.
In line with these goals, during the 4th quarter the Bank continued to create reserves. Gross reserves on December 31st, 2010 comprised 27% of the total portfolio. Thus the Bank completed 12 month period of 2010 with 19,506 thousand lats of losses (unaudited).
During the June 2010 shareholder meeting the shareholders made a decision to increase the Bank’s share capital. Thus the Bank shows very strong current ratios – on December 31st, 2010 the Bank’s capital adequacy ratio was 13.83%, which exceeds the requirement of the Financial and Capital Market Commission (FCMC) of 8%. The liquidity ratio was triple the of the FCMC’s minimal requirement of 30%.
On December 31st, 2010 the Bank’s total assets were 208,660 thousand LVL, loan portfolio – 104,276 thousand LVL, and deposit portfolio – 181,579 thousand LVL.
Additional information
Tija Ezeriņa
Head of Communication division
GE Money Bank Latvia
Ph.: +371 7024706
Mob.: +371 27876080
E-mail: tija.ezerina@ge.com
