AS “Akciju komercbanka “Baltikums”” (hereinafter – Baltikums Bank) has summarised its operative financial indexes as of 31 December 2010. Yet again the Bank proved sustainability of its growth and finalised the 10th financial year with profit. The undistributed profit for 2010 amounted to LVL 139 thousand (EUR 198 thousand).
During the year, the Bank made substantial investments in raising service quality, improvement of business processes, staff training, expansion of the variety of products and services with added value. Growth of demand for our services is proved by an increase in gross income by 2.4% compared to the year before.
In 2010, the total amount of the Bank’s assets grew by 12% and reached LVL 125.145 million (EUR 178.065 million). The volume of attracted deposits grew by 18.5% in 2010 and reached LVL 103.049 million (EUR 146.626 million) by 31 December 2010. Growth of the customers’ trust level towards the bank also is indicated by increase of the volume of funds in the bank’s trust management. During the year, this index grew more than 6 times and reached LVL 35.804 million (EUR 50.945 million).
Baltikums Bank followed a balanced and conservative approach to customer financing, which resulted in cutting the credit portfolio during the year from LVL 33.451 million (EUR 47.596 million) to LVL 27.383 million (EUR 38.962 million). In 2011, Baltikums Bank plans to expand possibilities of customer financing, particularly in short-term financing, based on activation of the customers’ international operations.
As of 31 December 2010, the bank’s capital adequacy made up 15.40% (the RL Financial and Capital market Commission requires at least 8%), liquidity – 71.38% (the RL Financial and Capital market Commission requires at least 30%).
Baltikums Bank is an international private bank with headquarters in Riga (Latvia) and representative offices in 6 countries. Our goal is to render top quality and consumer value services to facilitate business development, preservation and accrual of our customers’ wealth. Our customers, in their turn, help us ensure flourishing business, which contributes to increasing wealth of our employees and shareholders, as well as that of the countries where we live and work.
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