One of the main strategic goals this year as in previous year is ensuring Bank’s security and stability to its customers. Therefore our focus still is high capital adequacy and liquidity, a healthy deposit base, effective risk management and cost reduction. Effective cost control measures were implemented and internal control mechanisms are continuing to improve.
Total reserves on March 31, 2011 comprise 30% of total credit portfolio. Thus Bank completed 1st quarter 2011 with LVL 1,940 million of un-audited losses, which is approximately LVL 2,358 million less than in the same period of 2010. On March 31, 2011 the Bank’s capital adequacy ratio was 13,85%.
Kristine Circene
Communication Project Manager
GE Money Bank Latvia
Ph.: +371 67029019
Mob.: +371 26490696
E-mail: kristine.circene@ge.com
