Our focus is to continue to manage through the current economic cycle through prudent risk management and by continuing to ensure a safe and stable position including a high capital adequacy and liquidity position. Considering these goals, during 3rd quarter the Bank continued to create reserves. Total reserves on September 30th, 2010 comprised 26% of the total portfolio. Thus the Bank completed 9 month period of 2010 with 16,102 thousand lats of unaudited losses. In June 2010, the decision was taken at the shareholder extraordinary meeting to increase the Bank's share capital. Thus the Bank enjoys strong current ratios - on September 30th, 2010 the Bank's capital adequacy ratio was 15.99%, which twice exceeds the requirement of the Financial and Capital Market Commission (FCMC) of 8%, while our liquidity ratio exceeded the FCMC's requirements of 30% by approximately three times. On September 30th, 2010 the Bank's total assets were 213,224 thousand LVL, loan portfolio - 112,885 thousand LVL, and deposit portfolio - 183,442 thousand lats. Additional information Tija Ezeriņa Head of Communication division GE Money Bank Latvia Ph.: +371 7024706 Mob.: +371 27876080 E-mail: tija.ezerina@ge.com
CORRECTION: GE Money Bank 9 month financial report for the period that conluced on 30.09.2010
| Source: GE Money Bank
Attachments
