AS „Akciju komercbanka „Baltikums”” (Baltikums Banka) is appalled by the events of 15 October 2009, which directly and unambiguously harmed reputation of a Latvian stable and profitable bank. Baltikums Banka is shocked by the fact that erroneous and unverified information is so easily brought to public. Baltikums Banka has always run its business according to its moral principles, in compliance with all laws, and honestly payment taxes since the establishment of the bank. For the 8 years of its operations, the bank works with profit. Baltikums Banka is among the few Latvian banks that gain profit even this year. The bank's profit after 9 months of the year amounted to LVL 1.267 million. The bank often emphasises that good financial results are possible in hard times, too - if a conservative policy is adopted and business principles are clearly defined. The bank's stable operations have always aimed at reasonable preservation and increase of capitals of the bank's customers. Baltikums Banka never did not rush in crediting household purchases (the bank's portfolio thereof is the smallest the Latvia). The financial results for 6 months of 2009 show that Baltikums Banka is the 7th profiting bank in Latvia, the bank's profitability level is among the highest in the country, and the bank ranks 2nd by its capital adequacy and liquidity. The bank has not evaluated the amount of financial losses yet; however, it is clear that, apart from the financial losses, the bank's reputation has harmed materially. Baltikums Banka believes that it is entitled to turn to law enforcement authorities to bring to an account the guilty officials. Uldis Zandars AS „Akciju komercbanka „Baltikums”” Deputy of Head of the Product Development and Marketing Department Tel.: +371 67 031 408, +371 29 206 536 E-mail: uldis.zandars@baltikums.eu