In the 3rd quarter of 2009 DnB NORD Banka continued its development, paying
close attention to the challenging macro economic situation facing Latvia, and
focusing on increasing operational income and promoting overall efficiency of
the bank, as well as working closely with customers to ensure the quality of
the current loan portfolio.
In the first three quarters of 2009 the consolidated operational income before
provisions and taxes reached LVL 23.7 million which is 15% higher than in the
respective period of 2008.
The deposit portfolio of DnB NORD Banka reached LVL 434 million.
The consolidated loan portfolio of DnB NORD Group in the end of September 2009
amounted to LVL 1,645 million having decreased by 14% in comparison with the
beginning of the year.
Given the challenging economic situation of Latvia, the bank continued to
maintain a strict risk policy to ensure long-term stability. The net amount of
provisions in the end of September was LVL 104.6 million, the total amount of
provisions amounted to LVL 129.7 million. The consolidated loss for the first
nine months of the year amounted to LVL 68.7 million after provisions.
During the first three quarters of 2009 the bank continued strengthening its
capital base. In the first half of 2009 the bank increased its capital base by
almost LVL 50 million, and in the end of September the bank increased 1st tier
capital by additional LVL 21.2 million. DnB NORD Banka met all requirements of
Bank of Latvia and maintained sound capital and liquidity positions.
