The principle strategic direction of the Bank during 2010 is to continue to
manage through the current economic cycle thus ensuring the Bank's security and
stability. Therefore our focus is high capital adequacy and liquidity, a
healthy deposit base, efficient risk management and cost efficiency.
Considering these goals, during the 1st quarter of 2010 the Bank continued to
apply a rigorous approach to risk assessment, implement effective cost control
measures and maintain high liquidity. Total reserves on March 31, 2010 comprise
21% of the total credit portfolio. The Bank completed the 1st quarter of 2010
with LVL 4.3 million of un-audited losses, which is approximately LVL 1.3
million less than in the same period of 2009. On March 31, 2010 the Bank's
capital adequacy ratio was 14.31%.
Given our objective to ensure Bank's security, stability, and service
excellence for existing customers, which will position us well for the period
when the economic situation stabilizes and market will begin to grow again.
Additional information
Tija Ezeriņa
Head of Communication division
GE Money Bank Latvia
Ph.: +371 7024706
Mob.: +371 27876080
E-mail: tija.ezerina@ge.com
